Tag Archives | privatisation

Poland chemical privatisation may benefit from good dose of realism

The privatisation of Poland’s chemical sector stumbles on, having been subject to many delays and alterations. The latest deadline is March 22, the date by which German group Petro Carbo Chem should acquire ZAT and ZAK, having been awarded exclusive negotiating rights. It and two other unspecified bidders were told they could resubmit binding bids for Ciech–also billed […]

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Could Poland fertilizer agreement signal a merger?

Zaklady Azotowe Pulawy (ZAP), Poland’s largest fertilizer producer, and Zaklady Chemiczne Police (ZChP), the country’s second-largest fertilizer producer, today signed a business cooperation agreement.With the two groups in the midst of privatisation, I wonder if potential purchasers might look to merge the two groups, with all the consequent savings in overheads. ZAP produces nitrogen fertilizer, […]

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New gas agreement gives hope to Poland chemical privatisation

Good news for Poland’s chemical industry this week as a long term gas supply agreement is finally signed off, guaranteeing feedstocks for many chemical firms there. Lack of an agreement could have threatened the privatisation of the country’s second-largest Polish fertilizer producer Zaklady Chemiczne Police (ZChP), and others currently under offer.According to ICIS news, Under […]

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Poland chemical privatisation faces more delays

It’s perhaps not surprising that bidders are to be given extra time to submit binding offers for the package of Ciech, fertilizer, caprolactam and polymer producer Zaklady Azotowe Tarnow (ZAT) and nitrogen fertilizer, plastics and oxo alcohols producer Zaklady Azotowe Kedzierzyn (ZAK).Poland’s chemical industry privatisation, Polish state company restructuring agency Nafta Polska revealed the news […]

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Poland chemical privatisation moves a step closer

The boards of Ciech, Tarnów and Kędzierzyn are to present the financial situation and investment strategies of their companies to potential investors from the short-list this week, according to Adam Leszkiewicz, deputy treasury minister, told the Polish News Agency (PAP), quoted in Polish Market Online.‘Investors interested in the privatisation of the first group of chemical […]

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Bidders shortlisted for Poland chemical privatisation

Poland’s privatisation agency, Nafta Polska, has unveiled its shortlist for the chemical sell off it is planning. According to ICIS news, US-based private equity firm Bain Capital; London-based private equity firm Cinven in a consortium with Polish human resource and interim management services company Kolaja & Partners; German chemical company Petro Carbo Chem (PCC); National […]

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Poland chemical privatisation deadline passes

This week the deadline for preliminary bids in Poland’s chemical privatisation plan passed.According to ICIS news, only Germany’s Petro Carbo Chem (PCC) has publicly declared that it is a confirmed bidder for the package, which comprises Ciech, Zaklady Azotowe Tarnow (ZAT) and Zaklady Azotowe Kedzierzyn (ZAK).The blog wonders whether the whole thing may fail if […]

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Poland chemical industry privatisation plans in question

Poland’s chemical industry has been trying for years to privatise parts of its chemical industry. The blog has been following these developments for nearly 10 years and there has been little progress.Political inertia is caused by succesive governments altering or abandoning existing plans. And overstaffed, unmodernised factories have remained unreformed as strong unions and succesive […]

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