The listed company will conduct an equity issue – the aim is to reduce debt and generate savings. Thanks to this, the company will finance steel innovations for the automotive and mining industries,” according to Puls Biznesu.

Przemysław Sztuczkowski, CEO of the listed company, expects the project to be completed at the end of September and start of October. Investors may purchase shares worth approx. PLN 100 million. The issue objective is a debt restructuring. Thanks to these savings, Cognor will have funding for innovative projects co-financed by the EU and their commercialisation.

“For years, steel-making was deprived of EU funding but currently we can participate in innovation programmes such as Inno-Stal, which is operated by the National Centre for Research and Development. So far, we have received PLN 7 million but in the future we want to use this programme on a much larger scale,” Przemysław Sztuczkowski, CEO of Cognor S.A., told Puls Biznesu.