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Jastrzębska Spółka Węglowa SAJSW coal works with its subsidiaries on stabilising group's finances
The management board of listed coking coal producer JSW is working with its subsidiaries on stabilising the group's finances, JSW's management board said in a press release.
As stated, on February 4 and 6 the management board of JSW met with the management boards of its subsidiaries. JSW said that during the meetings emphasis was put on sizing up concrete goals in order to protect financial liquidity.
The meetings also looked into measures for reducing or even eliminating costs, which don't impact operational potential of the companies.
JSW said that another key step is to negotiate with JSW's strategic contractors.
"In previous crises, they supported JSW's liquidity by extending payment terms for liabilities and applying a system of discounts," JSW stated.
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