Polwax to invest millions in new installation

Polish wax and paraffin producer Polwax is planning to spend up to PLN 80 million on constructing a new installation of so called solvent deoiling, Rzeczpospolita daily reported. The new installation will upgrade the quality of paraffin specifities. Polwax is still making preparations for the project which is estimated to be valued between PLN 60 million and 80 million. The company hopes to launch the investment next year, and start commerical production in 2019. The paraffin producer recorded net profits of PLN 22.4 million in 2014, compared with PLN 19.8 million in 2013