Poland extends privatization deadline to 23 July

There is now more breathing space for bidders wanting to buy a stake in Poland's ZAP chemical plant in Puławy and Zakłady Chemiczne Police.

According to polishmarket.com the Polish Treasury has extended until July 23 the deadline for investors planning to place initial offers for the purchase of ZAP and Police, the Treasury has said in a communique.

The Treasury intends to sell from 10% to 50.67% of ZAP and from 10% to 59.41% of the Police plant.

Deputy Treasury Minister Adam Leszkiewicz told the Polish News Agency (PAP) that European and international investors have expressed interest in purchasing shares in these companies.

"Police" is one of the largest chemical plants in Poland. In 1995 it was transformed into a company wholly owned by the Treasury. In 2005 the company debuted at the Warsaw Stock Exchange. Police is the largest employer in the Western Pomerania Province.

ZAP has been the leader in the fertilizer-chemical industry for 40 years. The sale of chemicals makes for 40% of general production and is growing successively; ZAP is specialized in melamine.

Photo credit http://www.picapp.com/search.aspx?term=for%20sale&pageNum=0&cats=creative