Structure of the Group

Impexmetal S.A. is the parent company of the Impexmetal Group. It owns domestic and foreign subsidiaries, jointly controlled entities, associates, as the parent company of the Impexmetal Group it fulfils management and supervisory functions in relation to the Group companies.

The parent company in regard to Impexmetal S.A. is Boryszew S.A., which as of the day of publication of this report directly owns 49.53% of the shares of the Company.

Structure of Impexmetal S.A.

Organisational structure of Impexmetal S.A. is as follows:

  • Headquarters in Warsaw,
  • Zakład Huta Aluminium in Konin,
  • Sales Division in Warsaw.

The structure of the Company is the result of the merger of Impexmetal S.A. and Aluminium Konin-Impexmetal S.A., which took place on 30 June 2008.

Since 1 July 2008, as part of the organisational structure, Impexmetal S.A., the plant operates under the name Zakład Huta Aluminium Konin.

The principal activities of the Headquarters in Warsaw is the management of the Group and its aim is to increase the Company's goodwill in the long term.

The main business of Zakład Huta Aluminium in Konin is the manufacture of aluminium and aluminium alloys. After closing the Electrolysis  Department in 2009, Zakład Huta Aluminium's activity focuses mainly on aluminium and its alloys. Zakład Huta Aluminium Konin is a leader on the Polish market in terms of standard rolled products from aluminium and its alloys. Thanks to the initiated investment in the thin products plant, the company, since 2007, has been gradually increasing the production of thin products, on which higher processing margins are achieved.

The main products of Zakład Huta Aluminium are:

  • Sheets and strips - used in electrical, chemical, automotive and construction industry,
  • Thin sheets and strips - used in the production of coolers, bottle caps, trays, window blinds and construction strips,

Aluminium products are mostly used in the automotive, construction and electronics industries and in the manufacture of packaging.

The Sales Division of Impexmetal SA located in Warsaw, which operates within the organisational structure Impexmetal S.A. since 1 April 2007, carried out trading activity by developing the sales to customers outside the Group, with particular emphasis on the trading transactions (without trading in goods in Poland). The activities of the Trading Division of Impexmetal S.A. focuses on three main groups of goods:

  • Exchange metals (LME) and goods: mainly lead, zinc, tin and nickel.
  • Rare metals: mainly silicon.
  • Materials for the printing industry: mostly analogue plates, development of sales of digital plates.

Structure of Impexmetal Group

As at 31 December 2013 the Impexmetal Group consists of 4 Production Segments and a separate Other Operations Segment: (aluminium, copper, zinc and lead, bearings and trade and Other). The main companies of the Group are:

  • Aluminum Segment: Impexmetal S.A. Zakład Huta Aluminium Konin, Symonvit Ltd,
  • Copper Segment: Hutmen S.A., WM Dziedzice S.A.,
  • Zinc and Lead Segment: Baterpol S.A., ZM Silesia S.A.,Polski Cynk Sp. z o.o.
  • Trading Segment: Impexmetal S.A. Sales Division., FŁT Polska. Sp. z o.o., FLT Bearings Ltd., FLT France SAS, FLT Metals Ltd, Metalexfrance S.A.
  • Other Unassigned Segment: S&I S.A., SPV Lakme Investment Sp. z o.o., Impex – invest Sp. z o.o., SPV Ipmexmetal Sp. z o.o., Eastside Capital Investments Sp. z o.o., Baterpol Recycler Sp. z o.o., Baterpol Recycler Sp. z o.o. Sp. komandytowa, Baterpol Recycler Sp. z o.o. Sp. komandytowo – akcyjna, Baterpol S.A. Sp. Komandytowa, Surowce Hutmen S.A. Sp. Komandytowa, Baterpol S.A. i Wspólnicy Sp. Komandytowa

Structure of the Impexmetal Group as at 31 December 2013

Direct subsidiaries Business activityEffective share of the parent company in the Company (%)Share in the total number of votes (%)
Companies included in consolidation
FLT & Metals Ltd., United Kingdom   Trade  100.00 100.00
S & I S.A., Switzerland   Trade 100.00 100.00
FŁT Polska Sp. z o.o., Warsaw   Distribution of bearings 98.35 98.35
ZM SILESIA S.A., Katowice   Manufacture of semi-finished products from zinc and zinc alloys, zinc oxide and lead 97.03 97.03
Polski Cynk Sp. z o.o., Oława 1) Trade 99.66 100.00
Hutmen S.A., Warsaw 2) Manufacture of copper plumbing pipes 65.23 65.23
Walcownia Metali Dziedzice S.A., Czechowice- Dziedzice S.A. 3) Manufacture of copper products in the form of semi-finished products, aluminium, other non-ferrous metals and their alloys, moulding 73.29 98.09
SPV Lakme Investment Sp. z o.o., Warsaw   Development 100.00 100.00
Impex-invest Sp. z o.o.,  Warsaw 4)  4) Investment 100.00 100.00
Eastside Capital Investments Sp. z o.o., Warsaw   Has not commenced business activities 100.00 100.00
Symonvit Ltd, Cyprus   Management of intellectual property 100.00 100.00
SPV Impexmetal Sp. z o.o. Warsaw 5) 5) Has not commenced business activities 63.16 99.55
  1. of which Impexmetal S.A. holds directly 88.46% of the capital and votes at the GM and ZM Silesia S.A. holds directly 11.54% of the capital and votes at the GM,
  2. of which Impexmetal S.A. holds directly 37.69% of the capital and votes at the GM and Impex-Invest Sp. z o.o.  holds directly 27.54% of the capital and votes at the GM (change of 19.08.2013 registered on 04.10.2013 Impexmetal S.A. holds directly 16.20% of the capital and votes at the GM and Impex-Invest Sp. z o.o.  holds directly 49.03% of the capital and votes at the GM),
  3. of which Impexmetal S.A. holds directly 26.78% of the capital and votes at the GM and Hutmen S.A.  directly holds 71.30% of equity and 71.52% of votes at the GM, in addition, the parent company to Impexmetal S.A. - Boryszew S.A. - directly holds 1.92% of the capital and 1.91% of votes at the GM,
  4. of which Impexmetal S.A. holds directly 78.55% of the capital and votes at the GM and Baterpol S.A. i Wspólnicy spółka komandytowa holds directly 21.45% of the capital and votes at the GM,
  5. of which Impexmetal S.A. holds directly 8.64% of the capital and votes at the GM and Zakład Utylizacji Odpadów Sp. z o.o. holds directly 90.91% of the capital and votes at the GM.

Percentage share of the total number of votes at the general meeting/annual general meeting is consistent with participation in the share capital of the Company except for WM Dziedzice S.A. where the participation in share capital amounts to 98.08%

Direct subsidiaries Business activityEffective share of the parent company in the Company (%)Share in the total number of votes (%) 
Entities not consolidated
Brassco Inc., USA   1) Non-operating company 98.03 100.00
Zakład Utylizacji Odpadów Sp. z o.o., Konin   Environmental protection services 59.97 59.97
  1. of which Impexmetal S.A. holds directly 94.34% of the capital and votes at the GM and Hutmen S.A. holds directly 5.66% of the capital and votes at the GM

Indirect subsidiariesLower level parent companiesBusiness activityEffective share of the parent company in the Company (%)Share in the total number of votes (%)
Companies included in consolidation
Baterpol S.A., Katowice Polski Cynk Sp. z o.o. Purchase, processing of battery scrap and production and processing of lead and lead alloys 99.66 100.00
Huta Metali Nieżelaznych Szopienice S.A. in liquidation, Katowice Polski Cynk Sp. z o.o. Production of rolled copper and brass products (in liquidation since 26.09.2008) 61.56 61.77
BATERPOL RECYCLER  Sp. z o.o. Wrocław Polski Cynk Sp. z o.o. Zinc waste disposal 99.66 100.00
FLT Bearings Ltd., United Kingdom FLT France SAS, France Distribution of bearings 98.35 100.00
FLT France SAS, France FŁT Polska Sp. z o.o. Distribution of bearings 98.35 100.00
Metalexfrance S.A., France FŁT Polska Sp. z o.o. Trade  97.03 100.00
Non-consolidated entities    
Susmed Sp. z o.o., Toruń Hutmen S.A. Resort and rehabilitation activity, renovation and construction services, medical services, sale of health and safety articles 65.23 100.00
Przedsiębiorstwo Usługowo-Handlowe Hutnik Sp. z o.o. in liquidation, Konin Impex – Invest Sp. z o.o. Non-operating company 94.00 94.00
FLT Wälzlager GmbH, Germany FŁT Polska Sp. z o.o. Distribution of bearings 98.35 100.00
FLT & Metals s.r.l., Italy FŁT Polska Sp. z o.o. Distribution of bearings 98.35 100.00
FLT (Wuxi) Trading Co. Ltd., China FŁT Polska Sp. z o.o. Distribution of bearings 98.35 100.00

Indirect jointly controlled entitiesLower level joint control companiesBusiness activityEffective share of the parent company in the Company (%)Share in the total number of votes/(%)
MBO-Hutmen jv Sp. z o.o., Wrocław Hutmen S.A. Manufacture of adhesives and white metal alloys 32.62 50.00
KATECH-Hutmen Sp. z o.o., Ukraine in liquidation Hutmen S.A. Purchase, processing and sale of non-ferrous metals (operations suspended since 01.04.2003) 32.62 50.00

Direct affiliatesBusiness activityEffective share of the parent company in the Company (%)Share in the total number of votes (%) 
Remal Sp. z o.o., Konin Repair and manufacturing services 48.93 48.93
Przedsiębiorstwo Automatyzacji i Pomiarów Altech Sp. z o.o., Konin Services, automation and measurement 34.91 34.91

Companies included in consolidation

PartnershipsCompany partnersBusiness activity
Baterpol S.A. i Wspólnicy Spółka Komandytowa, Warsaw General partners: Baterpol S.A., FLT Polska Sp. z o.o., limited partner: Impexmetal S.A.,  Wholesale of goods
Surowce Hutmen S.A. Spółka Komandytowa, Wrocław Hutmen S.A. - general partner, limited partners: Baterpol S.A., FŁT Polska Sp. z o.o Special order wholesale of other semi-finished products, wholesale of waste and scrap
BATERPOL RECYCLER Sp. z o.o. Spółka Komandytowa, Wrocław General partner: BATERPOL RECYCLER Sp. z o.o., Limited partner: HMN Szopienice S.A. in liquidation Special order wholesale of other semi-finished products, wholesale of waste and scrap
BATERPOL S.A. Spółka Komandytowa, Katowice General partner: Baterpol S.A. Limited partner: BATERPOL RECYCLER Sp. z o.o.,  Spółka Komandytowa Special order wholesale of other semi-finished products, wholesale of waste and scrap
BATERPOL RECYCLER Sp. z o.o. Spółka Komandytowo - Akcyjna, Katowice General partner: BATERPOL RECYCLER Sp. z o.o., Limited partner: Baterpol S.A. Manufacture of other inorganic basic chemicals

Changes in the Group structure made after 31 December 2013

Impexmetal Group's structure has not changed until the date of publication of this report.