New Management Board at RAFAKO S.A. 27 november 2019

The Management Board of RAFAKO S.A. reports that on November 27th 2018 Mr Paweł Jarczewski appointed Supervisory Board as President of the Company’s Management Board and Mr Jerzy Karney was delegated to temporarily serve as Member of the Management Board for a period of three months. Agnieszka Wasilewska - Semail remained as Vice President and Jerzy Ciechanowski remained as Member of the Management Board.

 The most important task of the new President of RAFAKO will be to stabilize the Company's situation.

- 'RAFAKO is a very important link in the Polish industry building energy security of the country. Today, the Company needs above all a certain stage of the implementation of key contracts and adjustment to the expectations of customers and the market. Verification of existing commitments will be key in this process' said Paweł Jarczewski, the newly appointed President of RAFAKO S.A., adding that the challenges RAFAKO faces are an opportunity for the company to dynamically develop and consolidate its position on the market. 

At the end of the first half of 2019, the value of the RAFAKO Capital Group's order portfolio was PLN 3 billion 32 million, of which approximately PLN 1 billion 844 million is to be realized in 2019.

 The remaining amount, i.e. PLN 1 billion 188 million, falls on subsequent years. Contracts in the field of energy and environmental protection represent the largest share in the Group's order portfolio (78%). The oil and gas segment accounts for 18% of the portfolio's value. RAFAKO is also actively involved in the renewable energy market.

  Currently, the largest RAFAKO contracts are the construction of a block in Jaworzno, worth almost PLN 4.5 billion, the construction of two steam blocks in Indonesia for about PLN 300 million and the Flue Gas Nitriding Installation at Kozienice Power Station for PLN 289 million.

  Other orders include modernization of units at the Bełchatów Power Plant: approx. PLN 182 million, construction of the Kędzierzyn gas compressor station - PLN 168 million and the Goleniów - Płoty gas pipeline - PLN 125 million, and construction of the Flue Gas Desulphurisation Installation at the Ostrołęka Power Plant for PLN 126 million.

Paweł Jarczewski – a recognised manager with extensive experience in managerial roles in Polish and international corporations, capable of managing comprehensive business processes, including restructurings, value creation, corporate and investment finance raising, as well as handling M&A processes in partnership with leading investment banks.

Mr Jarczewski began his professional career in engineering at a Puławy-based company PROZAP, where he was responsible for marketing, sale and procurement of technology and for purchasing industrial facilities. In 1999–2002, as the head of investment procurement at Zakłady Azotowe Puławy, he held negotiations to purchase new technologies. He was involved in the construction of multiple new units and coordinated procurement for the projects.

The experience he gained during that period helped him build the future Polish chemical industry champion Grupa Azoty S.A. In 2002–2006, Mr Jarczewski worked as Sales and Marketing Director at Zakłady Azotowe Puławy S.A., where he was in charge of sales, marketing and logistics. From 2007 to 2008, he held the position of Development Director at CTL Logistics S.A., where he was responsible for sales and development of the chemical segment. In 2008–2013, he served as President of the Management Board of Zakłady Azotowe Puławy S.A.

Between 2013 and 2016, he was President of the Management Board of Grupa Azoty S.A. and served on the Board of Directors of KGHM International Ltd. (Canada).

From October 2016 to November 2019, he ran his own business FERTICS CONSULTING Paweł Jarczewski, which offered business consultancy services. From December 2018 to June 2019, he served as President of the Management Board of Via West Sp. z o.o. During his professional career, he has served as the Chairman of the Supervisory Boards of MEZAP Sp. z o.o., CTL Kolzap Sp. z o.o., Bałtycka Baza Masowa Sp. z o.o., and Grupa Azoty Zakłady Chemiczne Police S.A. Mr Jarczewski received a Master’s degree in Economics from the Faculty of Foreign Trade of the Warsaw School of Economics