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CEO on Famur's strategy
   
Miroslaw Bendzera
Listed mining machinery provider Famur focuses on foreign expansion, also via acquisitions, and sees it as one of the key elements of the company's soon-to-be-published strategy, while it enjoys the good economic situation that encourages the mining sector to invest, CEO Miroslaw Bendzera told PAP in an interview.
The company has selected its "priority markets," with "Eastern countries" seen as one of them. Famur also eyes developing economies in the South-East Asia as mining and power sector are on a fast rise in these countries. New countries, such as Australia, have also entered the company's scope of interest.
Famur hopes to "effectively make use of the positive market trend, which will be manifested on the results side" in the coming quarters, falling back on "the flexible model of production management."
The company suffered not only from growing labor and services costs last year, but also from increases in prices of materials and parts used in the company's production process.
Acquisitions are seen as one of the tools for tapping into foreign markets as they would offer Famur "a faster access path to select markets".
"We are constantly monitoring and analyzing the situation of the markets that are of interest to us from the perspective of interesting acquisition projects. We want to be prepared when the right moment comes", CEO said.
Famur has stepped up investments "in the solutions for the transportation-reloading sector localized in [unit] Famur-Famak" as it wants to turn that segment of its activity into "a second strong business leg." At the same time, Famur is working on making its production system more flexible and investing in automation of manufacturing processes.
The company is benefitting from the good economic situation both at home and abroad, translating into an investments increase in the mining sector, CEO said, pointing to "several large contracts" inked with coal group PGG and miner JSW, among others, as well as to "some significant contracts" for the Russian market signed at the turn of 2017 and 2018.