KGHM Puts Off Buys, Sees Quadra Profit above F'casts-Shanghai Metals Market

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KGHM Puts Off Buys, Sees Quadra Profit above F'casts

Industry News 10:06:13AM May 24, 2012 Source:SMM

WARSAW May 23 (Reuters) - Europe's No.2 copper producer KGHM will put off further foreign acqusitions until 2014 as it concentrates on developing the recently purchased Canadian rival Quadra, whose results it hopes will exceed expectations, its CEO said.

"For now one can say that analysts forecasts, according to which Quadra could show net earnings of 500-600 million zlotys this year, are to my knowledge too low," Chief Executive Herbert Wirth told Reuters in an interview.

He added the miner wants to raise its 11-percent stake in Polish utility Tauron and may invest in more energy companies, also by taking part in privatisations. ($1 = 1.0170 Canadian dollars) ($1 = 3.3959 Polish zlotys)

 

Key Words:  KGHM; acqusitions 

KGHM Puts Off Buys, Sees Quadra Profit above F'casts

Industry News 10:06:13AM May 24, 2012 Source:SMM

WARSAW May 23 (Reuters) - Europe's No.2 copper producer KGHM will put off further foreign acqusitions until 2014 as it concentrates on developing the recently purchased Canadian rival Quadra, whose results it hopes will exceed expectations, its CEO said.

"For now one can say that analysts forecasts, according to which Quadra could show net earnings of 500-600 million zlotys this year, are to my knowledge too low," Chief Executive Herbert Wirth told Reuters in an interview.

He added the miner wants to raise its 11-percent stake in Polish utility Tauron and may invest in more energy companies, also by taking part in privatisations. ($1 = 1.0170 Canadian dollars) ($1 = 3.3959 Polish zlotys)

 

Key Words:  KGHM; acqusitions