Reorganization of the HPC Group
One of the goals of HPC is to be one of the leading engineering companies in the respective countries in which its own subsidiaries operate. Despite many years of efforts in Bulgaria, Romania and restricted Greece HPC has never succeeded in reaching the desired position. The subsidiaries in these countries with a total of 24 employees were therefore sold to the respective local management in the first half of 2017. Cooperation agreements ensure that there will continue to be close cooperation between the former subsidiaries and the HPC Group in the future.
Poland has the largest and fastest growing economy in the east of the EU. HPC has therefore been striving to enter this market for years. In June 2017, HPC AG acquired 96% of the shares of the Polish engineering company POLGEOL S.A. Headquartered in Warsaw, with offices in Lublin and Lodz, 50 employees and more than 60 years of company history, the company is one of the leading engineering firms for hydrogeology, geotechnics and geothermal energy in Poland. The company will in the future be called HPC POLGEOL S.A. continued.
We welcome the new employees of the HPC Group, which, despite the sales of the subsidiaries in the Balkans, have once again grown a bit thanks to the new acquisition in Poland.