Treasury wary of nitrogen plants competing restructuring plans

The ZA Puławy nitrogen plant is the second company, after the Police chemical concern, which is objecting to the government's plans to consolidate the chemical industry. Following Police's declaration of changing its structure to a holding and floating its shares on the stock exchange, the Puławy plant has also come up with it own development plan. Both chemical companies today will present their idea to the State Treasury and Nafta Polska. The government is due to make its final decision on the future of the chemical sector in the middle of December. "We are afraid that both Police and Puławy want to block the sector's restructuring process," said Orest Nazaruk, from the State Treasury. The president of Puławy said that he considers his company to be the industry leader and therefore if consolidation is to take place, it should be done around the his plant. The company plans to change its structure into a holding and acquire the Kędzierzyn and Tarnów nitrogen plants. (Puls Biznesu, p. 6) A.K.