25 January 2010 18:02 [Source: ICIS news]
PRAGUE (ICIS news)--Zaklady Azotowe Pulawy (ZAP), Poland’s largest Polish fertilizer producer, has made a bid to acquire 85% of Polish polyvinyl chloride (PVC) and nitrogen fertilizer producer Anwil, ZAP said on Monday.
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ZAP is itself a state-held company, but the treasury ministry said it should be privatised later this year in a joint privatisation with Zaklady Chemiczne Police (ZChP),
Together with its Czech subsidiary, Spolana, Anwil makes up central and eastern Europe’s largest PVC producer, with a capacity of 435,000 tonnes/year.
Orlen hopes to address its debt-refinancing difficulties by selling non-core assets, including Anwil.
Neither ZAP nor Orlen would provide financial details of ZAP’s bid for Anwil.
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