Brief: Mabion Terminates Subsidy Deal For Expansion Of R&D Centre

Mabion SA

27/10/2022 06:59

Oct 27 (Reuters) - Mabion SA  MABP.WA :
    * SAID ON WEDNESDAY COMPANY HAS TERMINATED 2018 SUBSIDY DEAL
FOR
EXPANSION OF ITS RESEARCH AND DEVELOPMENT CENTRE (PROJECT)
    * SUBSIDY WAS CO-FINANCED BY THE EUROPEAN REGIONAL
DEVELOPMENT
FUND
    * COMPANY HAS USED ABOUT 0.3 MILLION ZLOTYS FROM ABOUT 63
MILLION
ZLOTYS OF SUBSIDY TOTAL WITH PROJECT COST SET AT ABOUT 173
MILLION ZLOTYS
    * TERMINATION OF DEAL IS DUE TO POSSIBLE CHANGE IN SCOPE OF
PLANNED INVESTMENT AND INABILITY TO MEET TERMS AND TIME FRAME
SET IN DEAL
    * TERMINATION OF DEAL DOES NOT MEAN RESIGNATION FROM
CONSTRUCTION
OF THE NEW MABION II PLANT
    * COMPANY IS WORKING ON DEVELOPMENT STRATEGY UPDATE 

        
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 Further company coverage:  MABP.WA  
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