Złomrex S.A. has sold its international and Polish distribution businesses of Cognor S.A. for a combined total of approximately EUR 32.7 million and PLN 177.6 million, respectively, to streamline operations and enhance financial focus.

Target Information

Złomrex S.A. has recently executed an agreement to sell its international distribution segment belonging to Cognor S.A. This strategic move involved selling 100% of the shares in Cognor Stahlhandel GmbH group for a total consideration of EUR 32.7 million. The deal underscores Złomrex's focus on optimizing its operational structure and financial position while leveraging the value of its international assets.

Additionally, in a separate transaction, Złomrex S.A. completed the divestment of a significant portion of its Polish distribution business to ArcelorMittal for approximately PLN 177.6 million. This transaction reflects a broader strategy to prioritize resource allocation towards more profitable segments of its business and streamline its domestic operations.

Industry Overview in Poland

The steel and metals distribution industry in Poland has experienced significant transformations over recent years, driven by changes in market dynamics and increased competition.