Poland's PKN Orlen wants Anwil fertilizer, PVC offers by end of year

02 August 2011 15:51  [Source: ICIS news]

LONDON (ICIS)--PKN Orlen wants to gather all preliminary offers for all or part of its polyvinyl chloride (PVC) and nitrogen fertilizer subsidiary Anwil by the end of this year, the Polish oil, chemicals and petrochemicals group said on Tuesday.

“Market research shows that there is more interest from potential buyers in the fertilizer unit. However, if during the sale process there are investors willing to buy both production parts… we will also consider it,” said Orlen spokeswoman Joanna Puskar.

Orlen said there had been a major improvement in the fortunes of Polish nitrogen fertilizer makers in the past year.

The combined capacities of Anwil and its Czech subsidiary Spolana add up to the largest PVC production capacity in central and eastern Europe, at 340,000 tonnes/year.

However, in June Anwil launched a process to sell Spolana separately. Spolana has a PVC capacity of 130,000 tonnes/year and a 40,000 tonne/year caprolactam business.

In June last year, Orlen rejected a bid for Anwil from Poland's largest fertilizer maker, Zaklady Azotowe Pulawy (ZAP), citing differences over price and non-price conditions.

ZAP said it had not ruled out making another bid for all or part of Anwil.

For more on PVC visit ICIS chemical intelligence

By: Will Conroy
+44 20 8652 3214

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