History

Energomontaż-Północ was established in January 1953 as a state-owned enterprise under the business name the Enterprise of Erection of Power Stations "Energomontaż-Północ" with the seat in Warsaw. The subject matter of the enterprise activity was erection of the thermal and mechanical parts of the power stations located in the territories of the Power Industry Administrations: Southern, Central, Western, and partly Eastern. Very soon range of scope of works was not limited to erection of the power stations installations and objects but also included erection of technological lines, manufacture of steel structures, tanks, components of industrial piping, ships, compressor stations for gas industry, and construction of many industrial objects. The first large investment project we have taken part in it was construction of the Warsaw Steelworks (1954 -1969). The business name of the enterprise had been changed for the Enterprise of Erection of Power Stations and Industry Equipment "Energomontaż-Północ" (PMEiUP Energomontaż-Północ) in order to better reflect the scope of works we had been able to carry out. This name had been used to the moment of transformation of the enterprise into the Joint Stock Company.

Since the beginning of its existence the enterprise, employing about 7 500 employees at the peak period, has been taking part in execution of the domestic and foreign power industry investments projects. Until 1990 the Company had taken part in construction of 70% of the Polish power stations and heat and power generating plants, inter alia the power stations: Pątnów-Adamów-Konin, Bełchatów, Połaniec, Kozienice, Dolna Odra, Jaworzno, Ostrołęka, as well as the hydroelectric power stations in Żarnowiec and Żydów.

The Company, specializing in erection of the thermal/mechanical parts of the power industry and industrial objects, as well as in overhauls, modernizations, and reconstructions of these objects, has also carried out the works in refineries and petrochemical plants, inter alia in Gdańsk and Płock, as well as abroad, in Mannheim in Germany, and at Chemopetrol Litvinov in Czechs. On the foreign markets Energomontaż-Północ has also carried out a lot of power industry investment projects, inter alia in Algeria, Turkey, Czechs, Germany, Hungary, Bulgaria, Russia, and Finland.

Pursuant to the Act on Privatization of State-owned Enterprises, the Company had been included into the program of public privatization, and on November 15, 1991 transformed in the Joint Stock Company under the business name "Energomontaż-Północ". In 1992, Energomontaż-Północ started to create a Capital Group, which at present is composed of the several specialized companies.

The shares of the Company made its debut at the Warsaw Stock Exchange, in the system of uniform quotation, on April 1988. In 1999, the Company was awarded with the "Brown Bull" award for one of the best companies on the basic market. The shareholders, the shares' value, as well as the equity capital have changed during 10 years. At present, the strategic shareholder of Energomontaż-Północ is Polimex-Mostostal, one of the biggest Polish construction groups. The shares of our Company are also owned by more than ten financial institutions.

During the period since 1998 till 2002 the Company as a dominant one in the holding, underwent consecutive stages of reorganization and restructuring aiming to liquidation of unprofitable areas of activity and improvement of the economic/financial situation. Since 2005 we have been implementing the new strategy, concentrating our activity in the power industry, the oil/gas sector, as well as in the offshore sector (manufacturing of the drilling platforms).