Conclusion of the final real estate purchase contract
With reference to current report no 58/2020, the Executive Board of Apator SA announces that on 9th March 2022 the company Apator Powogaz SA concluded the final contract of purchase of real property with newly built production plant in Jaryszki (gmina Kórnik, district Poznań), where the activity of the company will be relocated.
The final total value of the Contract amounts to PLN 52.3 million net, including:
- PLN 6.4 million net as the price for the acquired land properties,
- PLN 45.9 million net as consideration for the design, construction and transfer of ownership of a production hall with an office section, and for the transfer of copyrights and subsidiary rights to the design.
The transfer of real property into possession of Apator Powogaz SA will be made not later than on 16th March 2022.
The contract includes provisions for:
- contractual penalty reserved for Apator Powogaz in case of delay in the release of property,
- warranties and guarantees relating to the manufacturing facility.
The aforementioned provisions, as well as others included in the Contract, do not differ from conditions commonly applied in contracts of this type.
Relocation of Apator Powogaz (production plant and office-social part) is the key factor influencing the development and future results of Water and Heat segment. Relocation of the company's manufacturing operations to a modern factory will allow for further automation of production processes, implementation of the highest quality standards and significant increase in efficiency and production capacity. The scale of production of the largest assortment group of the company - water meters, in the perspective of 2025 will reach the level of 4 million units per year, which means an increase of about 40% compared to 2021. Volumes in other product groups will also increase significantly.
Article 17(1) - MAR Regulation
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