The supervisory board of Boryszew approved the investment expenditures of the Maflow Group in the amount of approximately EUR 20 million, the company announced. The planned investments are related to the contract concluded with one of the leading manufacturers in the automotive industry for the delivery by the companies of the Boryszew Group of hoses for the air conditioning system for the above-mentioned plants. intended for installation in cars (mainly electric cars) for the years 2025-2034. The estimated value of deliveries in this period is approximately EUR 280 million.
In connection with the concluded contract, it is planned to expand the plants belonging to the Boryszew Group with locations in China and Mexico.
The concluded agreement will enable the further development of the competence of the Maflow Group in the production of specialized cables for the automotive industry, and its conclusion is in line with the strategy of the Boryszew capital group for the years 2022-2026, which assumes, among others, the development of new sales markets and the acquisition of new end customers, it was emphasized.
The Boryszew Group is one of the largest industrial groups in Poland, specializing in the production of car components, processing of non-ferrous metals and industrial chemicals. It employs approx. 10,000 people. employees in over 30 plants located in 14 countries on 4 continents. Boryszew has been listed on the Warsaw Stock Exchange since 1996; is included in the sWIG80 index. Consolidated revenues amounted to PLN 6.79 billion in 2022.