Zaklady Azotowe Pulawy makes bid to acquire 85% of Anwil

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.

The stake, held by Poland’s state-controlled oil, chemical and petrochemical group PKN Orlen, should be disposed of before the end of the first quarter of this year, in line with the plan to privatise Poland’s chemical industry.

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), Poland’s second-largest fertilizer producer.

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.

For more on PKN Orlen visit ICIS company intelligence
For more on fertilizers visit ICIS pricing fertilizers
To discuss issues facing the chemical industry visit ICIS connect

By: Will Conroy
+44 20 8652 3214

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly