Poland to relaunch privatisations of Ciech, Zaklady Azotowe Pulawy
07 April 2011 17:59 [Source: ICIS news]
PRAGUE (ICIS)--?xml:namespace>Poland is to relaunch the privatisations of Ciech, the country’s largest chemical group, and fertilizer producer Zaklady Azotowe Pulawy (ZAP) in the second half of this year, the treasury ministry said on Thursday.
Renewed attempts to privatise fertilizer producer Zaklady Chemiczne Police (ZChP); fertilizer, caprolactam and nylon 6 (or polyamide 6) maker Zaklady Azotowe Tarnow; (ZAT); and fertilizer and oxo-alcohols producer Zaklady Azotowe Kedzierzyn (ZAK) were unlikely to occur this year, the ministry said.
The readiness of the three companies could only be gauged much later in the year, when the effects of their ongoing restructuring and consolidation moves should be clearer, the ministry said.
Ciech is Europe’s second-largest soda ash producer, while ZAP makes nitrogen fertilizers and is also a global melamine and caprolactam player.
Since 2007, Poland’s attempts to complete the privatisation of its chemical industry have twice come off the rails because of major disagreements over valuations.
Recent major consolidations in the state-held chemical sector have seen ZAT take a 53% stake in ZAK and ZAP acquire an 89.46% stake in phosphorous fertilizer unit Fosfory Ciech.
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