Germany’s Woellner given more time to consider Rudniki purchase

04 April 2012 17:49  [Source: ICIS news]

LONDON (ICIS)--Germany’s Woellner Group has been given until mid-June to decide on whether to go ahead with the acquisition of the Polish treasury ministry’s 85% stake in chemical producer Zaklady Chemiczne Rudniki, the ministry said on Wednesday.

In February, following a second round of negotiations, Woellner agreed a draft contract to purchase the stake in Poland-based Rudniki, a producer of sodium silicate, sodium water glass, potassium silicate, potassium silicate glass and industrial washing agents.

However, Woellner subsequently requested more time to resolve concerns relating to several issues, including currency market losses that could impact Rudniki and waste removal costs, according to a treasury ministry source.

Woellner produces silicates and specialty chemicals for the dyestuff, construction, paper, chemical, detergent and cleaning agent industries.

By: Will Conroy
+44 20 8652 3214

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