Management Board Report on the activity of the JSW S.A. for 2012
1.1. Organization of the Company
Jastrzębska Spółka Węglowa S.A. (“Company”; “JSW S.A.”) was incorporated on 1 April 1993. On 17 December 2001 JSW S.A. was registered under number KRS 0000072093 in the National Court Register kept by the District Court in Gliwice, 10th Corporate Division of the National Court Register. The Company was assigned the following REGON statistical number: 271747631. The Company has its registered office in Jastrzębie-Zdrój, Aleja Jana Pawła II 4. The Company’s duration is unlimited. The Company's shares are publicly traded.
The Company’s core line of business is black coal mining and the sale of coke and coal derivatives. The Company’s detailed line of business is presented in § 4 of the Company’s Articles of Association available at www.jsw.pl. According to the Warsaw Stock Exchange classification, JSW S.A. has been categorized into the raw materials sector.
The Company is the parent company in the JSW S.A. Capital Group (“Group”, “Capital Group”) consisting of JSW S.A. and its subsidiaries located in Poland. The companies comprising the Group are classified into the distinct operating segments. The Group prepares consolidated financial statements for the financial year ended 31 December 2012.
The Company’s organizational structure
JSW S.A.’s organizational structure as at 31 December 2012 is presented in the chart constituting an attachment to JSW S.A.’s Organizational Bylaws:
The Company is a multi-operation enterprise, operating in 2012 and as at the date of this report in the Republic of Poland. In 2012 the Company’s enterprise comprised:
5 black coal mines, i.e. Borynia-Zofiówka, Budryk, Jas-Mos, Krupiński, Pniówek,
Material Logistics Center,
Management Board Office.
With effect from 1 January 2013, as part of the implementation of the Mine Development Strategy in JSW S.A. for 2010-2030, the Company merged the Borynia-Zofiówka mine with the Jas-Mos mine into the three-section Borynia-Zofiówka-Jastrzębie mine.
Accordingly, as at the date of this report, the Company’s enterprise comprises:
4 black coal mines, i.e. Borynia-Zofiówka-Jastrzębie, Budryk, Krupiński, Pniówek,
Material Logistics Center,
Management Board Office.
The Company’s mines conduct operations pursuant to pertinent licenses granted to the Company.
The Company’s Management Board, continuing its efforts aimed at harmonizing the organizational structures of the Company’s mines, with a view to ensuring their compliance with existing geological and mining regulations, adopted the standardized Bylaws and Organizational Charts of JSW S.A.’s Mines and made appropriate changes in the Company's mines. These changes came into force as of 1 January 2013.
The internal organization of the Company’s Entities is defined in separate Organizational Bylaws and Organizational Charts adopted by the Management Board.
The organizational structure of the Company’s Entities and the Management Board Office supports efficient operation of the Company and its Entities, and the changes introduced are aimed at the constant improvement of the Company and its performance.
