Analysts estimate Ciech's PB sell off at EUR 100-150m

According to unofficial information, which was not confirmed by the Polish enterprise, this is the beginning of close cooperation between the two chemical companies. Analysts estimate the unrevealed value of the transaction at EUR 100-150 million. PB has equity of z³.25 million, while the value of its annual sales is $75 million. Disposal of the subsidiary is another step of Ciech in an attempt to tidy up its group. "Our strategy envisages quitting from the petrochemical sector. Ciech intends to focus on producing soda. PB is a good company, but its development is conditioned with investments," said Marek Klat, spokesman of Ciech. Cooperation between the company and Borsodchem began many years ago, as PB has been a supplier of raw materials to the Hungarian entity for some time. (Puls Biznesu, pp. 1, 7) M.M.