Company Profile

The information below does not constitute any invitation or offer to sell, invest in or trade, nor does it constitute any invitation to place any offer to purchase, invest in or trade the securities. The information presented herein is up to date as on the date of publication. For more information, please contact Investor Relations Centre, tel: (+48 22) 695 90 01-02, e-mail: investor@msp.gov.pl.

Wytwórnia Filtrów PZL-SĘDZISZÓW S.A. seated in Sędziszów Małopolski

Description of activity

Wytwórnia Filtrów „PZL-Sędziszów” S. A. is specialised in the production of hydraulic filters, fuel filters, air filters as well as oil filters. These components are used essentially in the construction and maintenance of engines and other types of machinery – e.g. in process media and cooling media filtration systems, and atmospheric air cleaning systems used to supply air into automotive cabs. In addition to complete filters the Plant also supplies filter parts and cartridges. The Company was established in 1939. Its manufacturing plant is located near Rzeszów. Its 70-years’ experience enabled WF „PZL Sędziszów” to reach the status of Poland’s second largest, in terms of production volume, manufacturer of filer cartridges. The Company sells almost 70% of its output in the domestic market. Untill July 2009, in Poland, sales was made through its main distributor - WF PZL TRADING Sp. z o.o. After the termination of an agreement, Wytwórnia Filtrów has been carrying out the sale on the domestic market independently. Customers of components manufactured by WF „PZL Sędziszów” include the following major companies: KATPOL Sp. j. Lubin, SF-FILTER Sp. z o.o. Hurtownia Motoryzacyjna Lubin, MOTO-HURT S.A. Ropczyce, AGROMA S.A. in Poznań, GRENE Sp. z o.o. Stare Miasto, Fiat Auto Poland Bielsko-Biała, as well as PZL-Świdnik S.A. in Świdnik. Export sales which accounts for 30% of output is carried out directly by the Company. Filters and filter components manufactured by WF „PZL Sędziszów” are sold in markets of: Italy – UFI, France – Renault, Germany – Kaercher, Czech Republic, Netherlands, Lithuania, Russia, Slovakia, Ukraine, Greece, Latvia, Moldavia, Romania, Brazil and Hungary. The company’s development plans provide for further improvement of technical sophistication to deliver higher quality components. The Company is also working on developing new types of filters and filter cartridges. Experts employed by WF „PZL Sędziszów” constantly monitor the worldwide and Polish automotive markets. One tendency seen by the Company and expected to be considered in its development strategy is the growing popularity of Diesel engine automobiles (35% share in the domestic market). Also, analyses suggest that the most prospective product groups are cartridges used in air conditioning systems. Until recently this type of equipment has only been used in higher-class automobiles, but today are commonly used as standard equipment in the majority of passenger cars. Such products has already been launched by the Company. The pace of upgrading depends largely on the availability of investment funds. The key issue for the Company is upgrading its manufacturing processes with the ultimate aim to decrease cycle times as well as improve manufacturing capacities. Also, the strategy of WF „PZL Sędziszów” assumes restructuring of the Company's key business areas.

Contact information

Province : podkarpackie

Wytwórnia Filtrów PZL-Sędziszów S.A.
ul. Fabryczna 4
39-120 Sędziszów Małopolski
ph.: (+48 17) 745 02 00
www.wf-sedziszow.pl

Ministry of Treasury
ul. Krucza 36 / Wspólna 6
00-522 Warszawa
Department of Privatisation
ph.: (+48 22) 695 87 22, 695 87 05
fax: (+48 22) 695 88 18
Investor Realtions Centre
ph.: (+48 22) 695 90 01
ph.: (+48 22) 695 90 02
fax: (+48 22) 629 98 38
investor@msp.gov.pl
www.msp.gov.pl

foto

Branch

Transport

Performance in thousand PLN


 
2008
2009
2010
Sales revenue
40 100.0
32 653.0
30 494.3
EBITDA
2 000.0
-3 504.0
-2 147.4
Net result
600.0
-4 995.0
-2 813.4

Planned privatisation

The State Treasury holds 100% of the company's shares. Ministry of the Treasury intends to sell 85% of company's shares in public tender procedure whereas 15% of shares will be transferred free of charge to the eligible employees of the company.

History of the privatisation process:
Concluding a tender: 19 January 2012
Invitation to a public tender. More information
Concluding a tender: 15 November 2011
Invitation to a public tender. More information
Concluding a tender: 6 September 2011
Invitation to participate in a public tender. More information
The privatization process was closed with no award. 7 July 2011
Parallel negotiations: 10 December 2010
Binding offers: 18 November 2010
Due diligence: 15 September 2010
Invitation to participate in negotiations. More information
Binding offer: 4 December 2009
Initial offers: 15 July 2009
Invitation to participate in negotiations: 15 June 2009

Employment

384 employees (as of 01.08.2011)

Initial capital

PLN 12 420 000.00

President of the Management Board

Andrzej Sojat

Privatisation advisor

Doradztwo Gospodarcze DGA S.A. with registered office in Poznań

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Publication date : 21.10.2009
Modification date : 20.01.2012
Katarzyna Szulc