Apator signed a real estate purchase agreement for 52.3 million PLN net

Apator Powogaz – a subsidiary of Apator – concluded a promised contract for the purchase of real estate together with a newly built production plant in Jaryszki (Kórnik commune, Poznań poviat), to which the company’s operations will be relocated, Apator reported. The final total value of the contract is 52.3 million PLN net

The real estate price includes: 6.4 million PLN net as the price for the acquired land real estate and 45.9 million PLN net as remuneration for the design, construction and transfer of ownership of the production hall with the office part, as well as for the transfer of proprietary copyrights and subsidiary rights to the project to be listed.

Apator Powogaz will take place on 16 March

The handing over of the real estate to Apator Powogaz will take place on 16 March, 2022 at the latest; it also results from the material.

“Relocation of Apator Powogaz (production plant and office and staff facilities) is a key factor influencing the development and future results of the Water and Heat segment.

The transfer of the company’s manufacturing activities to a modern factory will allow for further automation of production processes, implementation of the highest product quality standards and a significant increase in efficiency and production capacity.

The scale of production of the company’s largest assortment group – water metres, by 2025 will reach the level of 4 million items per year, which means an increase of approx. 40% compared to 2021. The volumes in other assortment groups will also definitely increase, ” according to the press release.

Specialises in switchgear, metering and IT systems

Grupa Apator specialises in the field of switchgear and metering, as well as IT systems. The company has been listed on Warsaw Stock Exchange since 1997. In 2021, it had 940.3 PLN million of consolidated revenues.

Source: ISBnews