On Thursday, April 30, 2026, Jelcz, part of Polish Armaments Group (PGZ), signed an agreement with the receiver under which it will lease Rafako’s assets in Racibórz. A letter of intent was also signed regarding the merger of Jelcz with RFK. The lease agreement for Rafako’s Organized Part of the Enterprise will allow Jelcz to obtain the right of first refusal.
Photos: PGZ, Jelcz
After the lease agreement is signed, Jelcz will obtain the right of first refusal for the assets included in Rafako’s Organized Part of the Enterprise, which the receiver of Rafako’s bankruptcy estate will sell through a tender. The funds for the purchase are expected to come, among other sources, from PGZ’s own funds and from companies within the Group involved in the project, with possible co-financing from the Capital Investment Fund and the Silesian Voivodeship Transformation Fund. Thanks to the lease agreement, PGZ Group companies will already be able to begin adapting the production halls, enabling full-scale production to be launched more quickly.
“Companies of Polish Armaments Group are increasing their production capacity to fulfil growing orders under modernization programs of the Polish Armed Forces, such as Wisła, Narew, Pilica+, and San. The investment in Rafako’s Organized Part of the Enterprise assets, together with its ready-made infrastructure, will make it possible to meet the needs of PGZ Group and Jelcz more efficiently and will strengthen national security,” emphasized Adam Leszkiewicz, President of the Management Board of PGZ. “This investment will also create new jobs and make it possible to expand the group of companies cooperating with PGZ Group, in line with the Local Content project, which will have a positive impact on regional development,” he added.
The leased assets include, in particular, five production halls with accompanying infrastructure, as well as office buildings. Jelcz will operate directly in three halls, where components for its own needs will be produced, vehicles will be assembled, and painting work will be carried out. The halls of the former Rafako plant will be used to produce chassis for, among other things, missile and radar systems under the Narew program.
“Jelcz trucks in more than a dozen versions and specialist variants are present in almost every unit of the Polish Armed Forces. By launching production in Racibórz, in cooperation with the main plant in Jelcz-Laskowice and with orders placed with Autosan in Sanok, we will significantly increase production and will be able to fulfil required orders for the Armed Forces, as well as for civilian entities, fully and on time,” emphasized Jelcz President Mariusz Ptak.
The remaining two halls in Racibórz will be used by other PGZ Group companies. Jelcz will sublease one of them to Rosomak, which is ultimately expected to purchase it. The hall will house, among other things, a welding line for large-size hulls, making it possible to increase production capacity and ensure flexibility in the manufacture of Rosomak wheeled armored personnel carriers.
Another hall will be leased for the needs of the San project, the largest and most modern integrated counter-drone system in Europe. The office building, in cooperation with the Katowice Special Economic Zone, will be commercialized, and office space will be leased out.
Merger of Jelcz and RFK
At the same time, a letter of intent was signed regarding the planned merger of Jelcz and RFK, with Jelcz as the acquiring company. Last year, RFK obtained the status of a component supplier for Jelcz, and this year the delivery volumes were significantly increased.
“The merger will deliver the expected synergy effect. Jelcz will gain a production team that is already involved in cooperation and has valuable knowledge of the infrastructure of Rafako in bankruptcy. The acquired RFK enterprise will become part of Jelcz’s Racibórz branch,” added PGZ President Adam Leszkiewicz.
“When we created RFK, we declared that our goal was to bring life back to these halls. Today, together with Jelcz and PGZ, we are fulfilling that promise. We are starting with the lease and preparations for the merger. Within a few months, Racibórz will become one of the key production hubs for heavy military vehicles. This is a success for the RFK team and proof that bankruptcy does not have to mean the end of an industrial tradition,” said Andrzej Kopeć, President of the Management Board of RFK.
Following the takeover, RFK’s existing shareholders – the Industrial Development Agency (ARP), Polimex Mostostal, and Towarzystwo Finansowe Silesia – will receive shares in Jelcz, whose value, given Jelcz’s dynamic development, is expected to increase in the future.
“I would like to thank PGZ very much for the excellent cooperation. Without these very good relations, it would not have been possible to reach today’s agreement. Racibórz is a symbolic example of how industrial potential can be recovered and reused in an orderly and long-term manner. The Industrial Development Agency focuses on projects that combine assets, competencies, and financing into a single coherent investment process. This makes it possible to create modern production centers that strengthen domestic supply chains and increase production capacity in strategic sectors, including defense. This approach allows investment decisions to be translated into real industrial development and jobs in the regions,” said Marek Zaleśny, Vice President of the Management Board of ARP.
As Jakub Stypuła, President of the Management Board of Polimex Mostostal, an RFK shareholder, added, the integration of competencies will enable the development of the potential of all parties.
“In the context of the planned merger of Jelcz and RFK, we intend to develop our strategy in the defense sector, adapting it to current market conditions and the directions in which the sector is developing. This approach is based on combining the competencies and experience of both entities, enabling joint objectives to be achieved more effectively. At the same time, as an experienced contractor in the industrial construction sector, we can effectively support Jelcz by cooperating in the expansion of its plants’ production capacity. The integration of potential will contribute to increased operational efficiency and strengthen the position of both entities in the strategic defense sector,” said Jakub Stypuła, President of the Management Board of Polimex Mostostal.
The transaction is also of considerable importance for the region. PGZ Group can point to cooperation with 12,000 partners across Poland. Thanks to the development of Jelcz production in Silesia, it will be possible to expand this group with additional private enterprises.
“Towarzystwo Finansowe Silesia has for years been involved in projects of key importance for the Silesian Voivodeship. Its participation in RFK is not only a capital investment, but above all support for local partners and suppliers. Thanks to today’s agreements, Racibórz is gaining a stable financial and industrial partner, which will translate into new orders for Silesian companies. This is a model example of how capital can serve regional development,” emphasized Mariusz Widzisz, Vice President of the Management Board of TF Silesia.
The merger of Jelcz and RFK is expected to take place at the turn of the first and second quarters of 2027, following business analyses and formal and legal procedures, including company valuations and obtaining the consent of the President of the Office of Competition and Consumer Protection (UOKiK) for the concentration.
🚛 Nowy rozdział dla Raciborza, JELCZa i przemysłu obronnego!
Dziś w Raciborzu Polska Grupa Zbrojeniowa i Jelcz sp. z o.o. wykonały ważny krok w kierunku zwiększenia mocy produkcyjnych i rozwoju krajowego przemysłu obronnego 🇵🇱
Podpisane zostały dwie kluczowe umowy:
📄 Jelcz… pic.twitter.com/o3VbljPoGE— Polska Grupa Zbrojeniowa🇵🇱 (@PGZ_pl) April 30, 2026
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