Privatization of key chemical companies to be completed within months

NP qualified eight out of eleven entities which submitted their investment proposals in August to the next stage of the privatization process. Now they will perform due diligence on the companies. "The privatization process should be completed this year or in early 2006 at the latest," stated NP deputy president Cezary Nowosad. The greatest interest was noted in the case of Organika-Sarzyna where five companies, namely, Advent, Polish Enterprise, Ciech , PCC and Organika Azot, were admitted to further negotiations. Sarzyna's president Leon Stelmach was not surprised by the large interest his company enjoys, "Our profits are rising, we have been financially solvent for years. We completed our restructuring process and are ready to welcome an investor." German PCC, Anwil from the PKN Orlen group and Norwegian Yara will compete for the Kędzierzyn and Tarnów chemical works, while Zachem may be taken over by PCC, Ciech or Malbork-based Organika. NP representatives refuse to reveal the expected income from the transactions. "Several hundred million złoty is at stake," declared NP president Adam Sęk. (Puls Biznesu, pp. 1, 11; Parkiet, p. 6)