The Management Board of Grupa Kęty S.A. (hereinafter referred to as the Issuer or the Company) informs about today’s receiving from Krakowski Park Technologiczny sp. z o.o. of a letter with the Decision No. 122/2021 on support of the Issuer’s business operations in the special economic zone on site of the Krakowski Park Technologiczny [Kraków Engineering Park], District of Oświęcim, Municipality and City of Kęty (hereinafter referred to as the Decision).
Within the business operations on site of the Krakowski Park Technologiczny, the Issuer Plans to increase production capacity of the existing company in the Extruded Products Segment, for example by way of launching a production line with 2000T and 4000T presses along with auxiliary equipment in the newly constructed production hall, about which the company informed in Report No. 28/2021 referring to the update of the investment plan for the years 2021–2025 and change of the basic financial assumptions projected for 2025, as presented in the Strategy 2021–2025.
The maximum value of the eligible costs of the investment project in case of availing of a tax exemption on account of the costs of eligibility of the new project shall amount to PLN 286 million, whereas the amount of costs declared to be covered by the Issuer is at least PLN 220 million.
In accordance with the Decision, the Company is obliged, among other things, to:
The Decision has been issued for 12 years, counting from the date of its issue, and the maximum value of public aid in the form of tax allowances may amount in that period to about PLN 77–90 million, depending on the actual costs incurred, and will be gradually recognised in the statement of profit or loss pro rata to the investment expenditures incurred.
