Monopoly producer of polypropylene film, Flexpol up for sale

Flexpol, the only manufacturer of biaxial oriented polypropylene film BOPP sold under the name of BIFOL, and 60% owned by Grupa Kety and 40% by PKN Orlen, will probably be sold to an international, most likely Italian, company. "We are very close to reaching an agreement with an investor," said management board member Michal Malina. Not only it is necessary to reach an agreement with the interested party, but also to receive permission for the sale from the Interior Ministry and the Office for Competition and Consumer Protection. "We decided to sell Flexpol, as the company wants to supply us with 30% of its total production, while we only need 2-3%," said Malina. PKN Orlen justified selling its stake by stating that it is focusing on internal restructuring. The value of the transaction is still unknown, but it is unlikely to be sold below its book value of zl. 18 million. (Rzeczpospolita, p. B5) M.M.