Orlen reveals it profitable plans for Unipetrol

"Thanks to the implementation of the program, by 2008 the EBITDA of the Czech group should increase by at least 45% as compared to 2004, that is by EUR 138 million. The restructuring program will give us a 33.9% return on the investment," said PKN Orlen president, Igor Chalupec. The domestic oil concern also revealed that Unipetrol will focus on oil extraction operations, development of its Benzina gas station network, which currently controls a 10% market share, and the petrochemical sector. Orlen also envisages the sale of Unipetrol's assets which are not a part of the company's core business. The acquisition is positively evaluated by sector analysts. "The take over will improve Orlen's consolidated result in Q3. I also positively evaluate the final cost of the acquisition. It is an amount close to this year's net profit which I forecast at around zł.1.8 billion," said Rafał Salwa, an independent analyst. (Puls Biznesu, pp. 1,11) AK