Poland's KGHM expects fair 2016 margins, no acquisitions

Fri Jan 15, 2016 1:38am EST
 
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WARSAW Jan 15 (Reuters) - Europe's No.2 copper producer, Poland's KGHM, 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. (Reporting by Adrian Krajewski)