Treasury shortlists strategic investors for chemicals plant
The Treasury selected a consortium led by oil giant PKN Orlen on Friday for
exclusive negotiations to buy a strategic stake in chemicals plant ZCh
Police S.A., Poland's leading producer of phosphoric fertilizers. The
Treasury Ministry also chose potential investors for two other chemical
companies, Ciech for the Kedzierzyn facility and two undisclosed investors
for nitrate plant ZA Tarnow. Other chemical companies the Treasury is
looking to sell off suffer from similar problems of low profitability which
in turn lowers their value. Though ZCh Police had a turnover of zl.1.37
billion last year, it only netted zl.1.27 million in profits. ZCh Police is
estimated to be worth zl.150 million, ZA Tarnow zl.100 million and
Kedzierzyn no more than zl.70 million. (Prawo i Gospodarka, p.1, Reuters)
T.J.
