August 29, 2012 / 2:18 PM / in 6 years

Polimex CEO flags cost cuts, winks at buyers to stay afloat

WARSAW (Reuters) - The new head Polish builder Polimex MOSD.WA will slash costs and cut jobs to save the beleagured company from falling victim to debt troubles that tripped up its local rivals, he told Reuters in his first interview with a news agency.

“We want to cut costs radically,” newly picked Chief Executive Robert Oppenheim told Reuters in an interview. “More details will be available in December, but we’ve sped up and savings will more than exceed what we talked about earlier.”

“We’re in talks with unions over employment optimisation. Naturally, the most important thing is to sign a deal with banks and bondholders on debt restructuring,” he said without going into more detail. ($1 = 3.2744 Polish zlotys)

Reporting by Pawel Bernat and Adrian Krajewski

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