FSO-owned companies merger PDF Print E-mail
Written by AutomotiveSuppliers.pl   
Thursday, 03 February 2011 14:35
zts_dpi_logo_150Early this year, the district court in Warsaw registered a merger between two companies in which Fabryka Samochodów Osobowych (FSO) is the majority shareholder.

The newly formed company, called ZTS-ZCS Polska Sp. z o.o., has acquired the assets of ZTS Polska of Grójec (manufacturing, among other things, frames and car seats) and  DPI-ZCS Polska of Ciechanów (press formed components, among other things). The merger was approved by the general meetings of both companies in resolutions adopted in late October 2010.

”The decision was the result of the current situation,” says president Krzysztof Rozenberg. Both companies supply products to only customer, which is the Warsaw based FSO car maker. The merger is expected to help keep the company liquid and, at the same time, rationalise its costs.

The majority of shares in ZTS-ZCS Polska is held by FSO (78.47%). As of January, ZTS-ZCS employs 259 people.

There is every indication that the merger is the first step towards consolidating the manufacturing plants owned by FSO.