The Polish Armed Forces Group signed 2 key for its operations and plans of the partnership agreement with the largest Polish banks – PKO BP and Bank Gospodarstwa Krajowego. They will supply the national holding with loans for investments, financial guarantees essential for the execution of contracts and funds for export projects.
– Dynamic changes in the group alone require increased financial outlays. In order to meet the increasing expectations of the PGZ-et, we are looking for partners in various domains, including funding," he said present Adam Leszkiewicz, president of the Polish Armed Forces Group, at the global Defence manufacture Salon.
The largest defence holding in Central and east Europe, PGZ, it can boast evidence turnover, which reached almost PLN 20 billion last year. This, however, does not mean that the Group does not gotta constantly search fresh outlets and, possibly above all, the ability to execute contracts. This requires hundreds of millions of financial resources for fresh R & D projects, capacity increases and, as is seldom remembered, financing of signed contracts (e.g. bank guarantees required by the counterparty).
The agreements which the company concluded on the second day of MSPO are crucial for its operation. The representatives of the PGZ signed strategical partnership agreements in Kielce with the largest Polish banks – PKO BP and Bank Gospodarstwa Krajowego.
The agreement with BGK assumes that the bank will assist the full PGZ-et group to manage liquidity and marketplace risk. It will finance export, investment and operational projects. In addition, it will besides aid refinance arms contracts, for example by providing financial guarantees for their execution. The agreement with PKO BP has a very akin character, but it besides assumes the launch of a credit line worth respective billion PLN for the capital group PGZ.
The president of the national arms holding stressed the importance of the agreement with PKO BP and explained what the group intended to spend the funds. – The aim of our cooperation is to enable PGZ-et to increase production capacity and launch fresh infrastructure and technological investments that will strengthen the country's defence sovereignty. Only in 2024 the value of orders in PGZ reached almost 20 billion PLN. Flexible long-term financial solutions are needed to implement them," added Adam Leszkiewicz.
