Treasury to say goodbye to chemical firms ZA Puławy and ZCh Police
Currently, the state controls 80% stake in the Police plant and a 71.15% stake in Pulawy. "The Treasury Minister has entrusted the privatization of the companies in us," said Cezary Nowosad, deputy president of Nafta Polska (NP). He went on to say that NP would prepare a strategy that would allow the immediate sale through a floatation of all shares held by the state in both companies. A draft project would be ready by the end of 2005, while plans for the disposal of shares would be ready by the end of January. "I cannot imagine that the state will sell all of its shares in Police and Pulawy to financial investors," said Michal Janik of BDM PKO BP. Other analysts claim that in the long-run the stock would anyway be sold to sector investors. "The most desired solution is the withdrawal of the Treasury and the sale of a significant stake to a sector investor. Polish chemical companies are very small in relation to international competitors and they have no chance of surviving," said Janik. (Puls Biznesu, pp. 1, 10) M.M.
