Croatian government interested in selling ferts maker Petrokemija

26 March 2012 13:33  [Source: ICIS news]

LONDON (ICIS)--Croatia is interested in selling its controlling stake in the country’s largest fertilizer producer, Petrokemija, the Croatian economy ministry said on Monday.

The 50.63% stake in mineral fertilizer Petrokemija could feature in an upcoming privatisation wave largely focused on the energy and shipbuilding industries, the ministry added.

Croatian economy minister and deputy prime minister Radimir Cacic would this week explore potential interest in companies earmarked for the sell-off during a trip to Moscow where he would meet representatives of major Russian companies, it said.

Petrokemija’s management had no information about privatisation proposals for the company other than what it had read in the media, the company said in a statement to the Zagreb stock exchange.

The Chemical and Non-Metal Industries Union of Croatia (EKN) said it had written to the economy ministry requesting prompt information on the possible privatisation.

In February, Petrokemija announced it returned to profit in 2011 following two years of losses.

Petrokemija has an overall solid and liquid fertilizer capacity of 1.5m tonnes/year.

The company, founded in 1968, is based in Kutina, central Croatia and has 2,300 employees.

Its exports go to Italy, Slovenia, Germany, Spain, China, and the US.

By: Will Conroy
+44 20 8652 3214

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