Poland-based Boryszew Group has announced the signing of a letter of intent for the sale of pipe producer Rurexpol, the group company that was liquidated earlier this year and ceased operations. The transaction is valued at PLN 71.5 million ($19.5 million). The agreement is expected to be finalized by October 15, following a comprehensive due diligence review by the potential buyer.
According to the statement, the sale covers real estate, movable property such as machinery and equipment, certificates, concessions, licenses, and permits, intellectual property rights, spare parts inventories and technical and technological documentation related to production lines.
If the sale is concluded, it will permanently eliminate the possibility of Rurexpol returning to the Częstochowa Steelworks, where it once operated as the pipe production division.