Anwil announces zl. 450 million five year modernization strategy

The Anwil Nitrogen works, in which PKN Orlen has a 74% stake, has prepared a strategy for the next five years which is aimed at sustaining profitability and improving the company's competitiveness on international markets. The plan envisages investments of around zl. 450 million, mainly in modernizing equipment as well as research and development. Anwil intends to invest zl. 150 million in increasing the efficiency of its chlorine and soda lye processes. "The remaining zl. 300 million will be spent on renovating our installation so that we can steadily compete with the world's leading companies," said the director of Anwil Krzysztof Kaczorowski. The company is considering joining a restructuring and privatization program which was recently presented by Nafta Polska. Anwil hopes to end the year with a net profit of around zl. 24 million, while 2003 net profit is projected at zl. 20 million, a similar result to that of 2001. (Puls Biznesu, p. 11; Prawo i Gospodarka, p. 6) A.K.