Ciech seeks offers for one of its subsidiaries; Alwernia Chemical Plant

The management of chemical concern Ciech has decided on the sale of one of its subsidiaries, the Alwernia Chemical Plant (ZChA). Negotiations with potential investors are currently in progress. Ciech announced plans to sell a stake of over 72% in the plant. The transaction however will be a co mplicated one, since Ciech decided to divide ZChA into two separate entities before the sale. One will specialize in chrome production, while the other will concentrate on phosphate. "A Dutch investor is interested in the phosphate plant, as well as one from Kazakhstan, which has access to d eposits of the raw materials," said Ludwik Klinkosz, the president of Ciech, adding that an Italian company is showing interest in the investment into the chrome plant. Klinkosz did not want to reveal any further details, therefore dates for the finalization of the talks are not known. ZChA has recorded revenues of zł. 102.9 million over the last eight months of o peration. (Puls Biznesu, p. 7) A.K.