Poland’s oldest loco works faces closure

by

fablok_35lat_5000lokomotyw_1959

Fablok employees in 1959, in front of the 5,000th steam locomotive built in the factory. The WP class pacific was produced for export to India. Long serving Fablok Technical director Klemens Stefan Sielecki is the sixth person (front row from left) with his hat in his right hand. Photo public domain via Wikipedia.

(Click to enlarge.)

Poland’s oldest locomotive factory, Fablok in Chrzanow which was established in 1919, has been declared bankrupt. An application for bankruptcy was moved by a trade union and a group of employees, It was approved by the Cracow District Court on 23 May. The first redundancy notices were expected to have been issued by the end of May.

According to court documents, the company, which employs about 350 workers, has liabilities to more than 200 creditors of over 64 million zł. The Company’s assets are estimated at about 44 million zł, and are almost entirely already tied up as securities to creditors such as: the tax office, Social Security and banks. The company lacks cash which would enable it to continue production.

rebuilt_st44

Modernised ST Co Co diesels for the 1520 mm gauge LHS line. Photo Fablok company archive.

The court-appointed trustee, Leslaw Kolczynski, has begun an inventory of the assets and contracts of the company, after which he will decide upon the future of the factory.  “Bankruptcy does not necessarily mean liquidation, perhaps there is an investor who may want to take over or lease the property and the factory will be able to work on, now without the old burdens”, said Mr Kolczynskie.

The trustee intends to apply to the Guaranteed Employee Benefits Fund for the payment of overdue salaries to employees for three months back from the date of the declaration of bankruptcy. Fablok employees have not received payment for nearly half a year. The last major shareholder of Chrzanow factory, was a company registered in Cyprus.

Sources:

About these ads

2 Responses to “Poland’s oldest loco works faces closure”

  1. internationalsteam@gmail.com Says:

    That Indian loco is a 4-6-2 and not a 2-10-0. Please spare your blushes by correcting this.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


Follow

Get every new post delivered to your Inbox.

Join 250 other followers