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Poland's KGHM expects fair 2016 margins, no acquisitions

Published 2016-01-15, 01:38 a/m
© Reuters.  Poland's KGHM expects fair 2016 margins, no acquisitions
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WARSAW, Jan 15 (Reuters) - Europe's No.2 copper producer,
Poland's KGHM KGH.WA , expects to book "fair" margins this year
and does not plan any acquisitions until 2018, its chief
executive Herbert Wirth was quoted as saying on Friday.
"2016 will not be bad for us, we are still capable of
generating fair margin, above costs," he told daily
Rzeczpospolita.
He added that low copper prices mean there are chances to
buy miners cheaper, but since the metal rout hit its margins,
the CEO did not expect any takeovers from Poland's
state-controlled KGHM until 2018.

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