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Summary of Project Information (SPI) |
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| Project number | 8126 |
| Project name | Bauma Unicon (Master Agency Project 7393-IO Agency LN-AL) |
| Country | Poland |
| Sector | Nonmetallic Mineral Product Manufacturing |
| Department | Global Manufacturing & Services |
| Company name | Bauma Unicon |
| Environmental category | FI |
| Date disclosed | February 20, 1997 |
| Status | Completed |
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REVISED SUMMARY OF PROJECT INFORMATION (SPI)
Project Name Poland-Bauma Unicon Sp. z o.o.
Region Europe
Sector Manufacturing
Project No 008126
Projected Signing Date 15 March, 1997
Company Name Bauma Unicon Sp. z o.o.
Technical Partner and/or Major Shareholders
Unicon Beton I/S: Danish Strategic Partner, 41% shareholding
Bauma SA: Polish Partner, 51% shareholding
The I Fund for Central and Eastern Europe, 8% shareholding
Project Cost Including Proposed IFC Investment
The total project cost is approximately US$4.2 million equivalent, including an IFC Loan of DM 2.28 million (US$1.42 million equivalent). The loan will be made under the I/IFC Co-investment Line (project number: 7393), which was approved by the IFC Board on October 3, 1996.
Location of Project and Description of Site
The production site is located in the northern-east outskirts of Warsaw, about 12 km from the center, in an industrial area distant from residential housing.
Description of Company and Purpose of Project
Bauma Unicon (“BU” or “The Company”) is the leading producer of paving stones and curb stones in the greater Warsaw market. It was established in 1994 as a joint venture between a local partner Bauma SA, Danish partner Unicon Beton and the I Fund. The market for the Company’s products is growing rapidly and is closely related to the development of new office, commercial, and residential construction in Warsaw, as well as the renovation of existing buildings and infrastructure. In order to meet increasing market demand, the Company is planning to install a new, modern production line for paving and curb stones which will allow the Company to increase capacity by about 45% to 900,000 m2 p.a., improve quality and achieve significant economies of scale, while closing down an old, inefficient plant.
Unicon Beton I/S (a member of the FLS Group) is the leading producer of ready-mix concrete and concrete elements in Denmark, with 36 facilities throughout Denmark and several overseas subsidiaries. The company employs 1,200 people and its consolidated sales for 1995 reached about US$206 million equivalent.
Bauma SA is a medium-sized private Polish company, active in: i) production of paving, ii) road works, and iii) sales and leasing of scaffolding equipment. Presently Bauma is undergoing an IPO on the parallel market of the Warsaw Stock Exchange.
Environmental Category and Issues
This is a category B project according to IFC’s environmental review procedures. Key environmental issues include potential dust and noise problems in connection with the compaction of the dry concrete, and related occupational health and safety issues. The compaction takes place in a sealed closed room and no dust from this process will penetrate into the working areas. All workers are equipped with hearing protection which is in line with EU standards. There are no water or waste disposal issues. Based on its review and analysis, the I Fund has concluded that the Bauma Unicon project will meet the World Bank environmental, health and safety policies and guidelines, as well as Polish requirements. IFC’s Environmental Department has cleared and approved the environmental review carried out by I. The Environmental Review Summary is available at the Public Information Center.
Date SPI sent to the PIC: February 11, 1997
Revised: February 20, 1997
For Additional Information contact: Corporate Relations Unit
telephone: (202) 473-7711
facsimile: (202) 676-0365
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