08 July 2010 13:29 [Source: ICIS news]
PRAGUE (ICIS news)--Privatisation remains the only option for the development of ?xml:namespace>
“Privatisation is still the only alternative for the Polish chemical sector and we are determined to continue…let me emphasise that privatisation is our priority, because it gives real opportunities for growth,” said Deputy Treasury Minister Adam Leszkiewicz.
In the wake of the failure to privatise those companies that were up until now part of the so-called Group I category of producers, the treasury ministry said it listened to some parties who were calling for privatisation to be abandoned in favour of consolidating state-held companies into larger, stronger groups.
Leszkiewicz said that there were clearly “opportunities for synergy between these companies and we welcome all attempts made by them to work out ideas for possible consolidation, [but] this does not stand in conflict with our current privatisation efforts”.
“On the contrary,” he added, “consolidation may contribute to strengthening the companies and increasing their attractiveness for potential investors.”
ZAP and ZChP were initially to be offered together as part of the Group II companies, but Leszkiewicz stressed that the treasury ministry had by now “departed from the concept of ‘Chemical Groups’.”
The two companies would now be privatised separately, as would be the companies that were previously part of Group I, he said.
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