PKN unites with Norwegian firm to take on fertilizer

Oil holding PKN Orlen and Norwegian firm Norsk Hydro Yara, one of the largest fertilizer producers in the world, are jointly planning to take control over domestic fertilizer manufacturers. Poland is a very attractive market for acquisitions, especially in the fertilizers sector, as its consumption is substantially smaller than that in the EU. "Yara is already cooperating with Orlen with regard to the restructuring of the chemical sector. Both companies intend to merge fertilizer divisions of plants in Tarnów and Kędzierzyn as well as Anwil, a subsidiary of PKN, with Yara," said an anonymous representative of the chemical sector, who added, "The newly created company would be floated." (Puls Biznesu, pp. 1, 4) M.M.