Polish consortium rules out buying Anwil this year

24 June 2009 16:36  [Source: ICIS news]

PRAGUE (ICIS news)--The Polish Chemical Consortium (PKCh) has ruled out purchasing polyvinyl chloride (PVC) and fertilizer maker Anwil from PKN Orlen this year, it said on Wednesday.

The three PKCh members — Polish base chemicals producer Ciech; fertilizer, caprolactam and polymer producer Zaklady Azotowe Tarnow (ZAT); and nitrogen fertilizer, plastics and oxo alcohols producer Zaklady Azotowe Kedzierzyn (ZAK) — would spend the rest of this year focused on completing their privatisation process, the PKCh added.

The consortium said its hopes of negotiating with Orlen for Anwil — central and eastern Europe's largest PVC maker — in the first half of this year had been dashed because of lengthy delays in Orlen selecting a sale advisor.

PKCh is the only entity to have declared an interest in acquiring Anwil, which Orlen wants to sell by the end of this year to help address financial difficulties.

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By: Will Conroy
+44 20 8652 3214

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