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Mining machinery maker Famur to focus on non European exports, Equities News - EquitiesPoland.pl
Coverage of high-potential mid-market firms in Poland


Mining machinery maker Famur to focus on non-European exports

TAG'S: FAMUR, Metals Industry

Listed mining machinery maker Famur sees exports to non-European markets as its strategic development direction, especially in the context of EU's climate policy and difficult situation on the Russian market, famut's top export sales official Rafal Milinkiewicz told PAP.

"The European markets, mostly due to the EU climate policy, ... are not as attractive as the non-European regions," Milinkiewicz said. "Also Poland and the Czech Republic have their problems in the mining sector."

"So exports to emerging markets is our strategic development direction," he added.

Also situation on the Russian market is difficult, the official signaled.

"As recent events showed, Russia in quite an unpredictable country in terms of both politics and economy," the Famur official said, adding that while Russian mines need investments, those processes decelerated or were delayed.

Due to the difficult geopolitical situation, Famur decided to close its Donetsk office in Ukraine, the official said.

In the former Soviet Union, Famur has highest hopes for the Kazakh market, but developments there will depend on mines' determination to conduct investments.

Elsewhere in Asia, Famur hopes for a contract in Mongolia, where it signed letters of intent, but expects the whole process to take a rather long time. Prospects are good also for the Turkish and the Indian market.

"In Turkey we see a strong intention of investing in the mining sector," Milinkiewicz said. "It will certainly become one of our most important markets."

"India is also attractive, but we have to remember about such obstacles as red tape and cultural differences," the official said. "The potential of that market will make us build up our export sales there."

Longer term, Famur will seek sale opportunities in South America and Africa, Milinkiewicz added. 


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