Chemical companies turning their back on fertilizers

Following the recent downturn of the market, chemical sector companies are diversifying from lucrative fertilizer production. In line with the trend, the Police Chemical Plant yesterday presented its new business plan which aims at clarifying and improving the company's future. The mangement calculate that they need to invest zł.1 billion over the next nine years. However, the most significant projects will be completed within the next three to four years. These include increasing the production of titanium white, a substance used in the paint and varnish industry, and moving into the manufacture of methanol. In order to carry out these investments, the company is seeking support from its future investor, Ciech. "Zł.150 million will be raised through privatization. We will need loans and we will issue bonds. Ciech could guarantee the funds borrowed," said Andrzej Kurowski, Police president. (Puls biznesu, p. 7) A.K