President Rafaco is dismissed. “Broken trust”

Rafaco’s supervisory board decided on the resignation of the incumbent president on Friday. His duties were taken over by Maciej Stańczuk, who is connected with the main owner of the company, i.е. restructured PBG. The reason for the dismissal of Domagalsky-Labendzka was called “loss of confidence”.

Dispute with Tauron

Recently, Rafako managed to reach an agreement with Tauron and resolve a dispute related to the construction of a 910 MW unit in Jaworzno. The parties came to an agreement in March. He will receive PLN 240 million in claims that, according to the group, are the result of improper execution of the contract for the construction of the block in Jaworzno. In turn, Tauron Wytwarzanie undertook to pay Rafako i.a. PLN 10 million for services, including settlements with subcontractors and taking responsibility for claims of subcontractors involved in the construction.

Rafako was the contractor for the new Tauron power unit worth PLN 6 billion. The block turned out to be very dangerous. Rafaco claimed that the reason for the regular breakdowns was the inadequate quality of the coal supplied by Tauron. In turn, the energy company claimed that the cause was numerous defects and malfunctions of the unit.

Group layoffs

In mid-May, the company’s management announced a decision to carry out collective layoffs. The reason for the decision is the deterioration of the company’s economic situation, associated with the impasse of the so-called. investor process involving MS Galleon, Rafaco said in a press release.

“The above decision of the issuer’s board is motivated by the deterioration of the issuer’s economic prospects, as well as the deadlock of the so-called. investment process of the issuer with the participation of MS Galleon GmbH, which leads to the need to adapt the level and costs of labor to the current financial and market position of the issuer.