Newag : Division of NEWAG Gliwice S.A, a daughter company, completed

Division of NEWAG Gliwice S.A, a daughter company, completed

As of 1 Febru­ary 2015, the Board of Direc­tors of NEWAG S.A. was enlar­ged. The Super­vi­sory Board adop­ted a reso­lu­tion on appo­in­ting both Bar­tosz Krze­miń­ski and Maciej Duczyń­ski to the posts of Vice Pre­si­dents of the Board. More­over, as of 1 Febru­ary 2015, the Super­vi­sory Board appo­in­ted Bog­dan Borek, who so far served as the Board mem­ber, to the post of Vice Pre­si­dent of the Board.

On 2 Febru­ary, 2015, the divi­sion of NEWAG Gli­wice S.A., NEWAG's dau­gh­ter com­pany, was com­ple­ted. As a result, the key part of the com­pany pro­perty i.e., the com­pany assets rela­ted to manu­fac­tu­ring, repa­iring, moder­ni­zing and leasing rail vehic­les were trans­fer­red to the mother company.

The com­pany faci­lity in Gli­wice has become the Elec­tric Loco­mo­ti­ves Manu­fac­tu­ring Plant, Branch in Gliwice.

In the opi­nion of the Board, this restruc­tu­ring pro­cess will result in opti­mi­zing ope­ra­ting costs of NEWAG Capi­tal Group and incre­asing inte­gra­tion of the com­pa­nies com­pri­sing NEWAG Capi­tal Group.