Poland’s PKN Orlen has announced it has put Czech chemical company Spolana Neratovice on the sale block and will enter final talks with three possible buyers in January 2010. The names of the buyers have not been disclosed, nor has the sale price, but estimates suggest PKN Orlen could make more than Kč 10 billion as it combines Spolana’s Neratovice production facilities with the rest of its chemical industry assets in its Anwil subsidiary for the sale.
Spolana a.s. (www.spolana.cz)
Spolana is one of the leading chemical companies in the Czech Republic producing caprolactam, sodium hydroxide, and ammonium sulfate-based fertilizer products.
Spolana is also the country’s only PVC manufacturer. Originally established as a state-owned operation in 1992, the company was sold to Unipetrol in 2001, then again to Zaklady Spolana Azotowe ANWIL s.a. in 2006. Spolana is based in the northern Czech city of Neratovice employs nearly 1,000 people.
PKN Orlen (www.orlen.pl)
Based in Plock, Poland, Polski Koncern Naftowy (PKN) ORLEN S.A. is an oil refiner which processes crude into dozens of products for both consumer and industrial use. PKN produces petrol and diesel fuels, aviation fuel, heating oil, industrial and machining oils, propane-butane products, plastics, and household chemicals.
Among the company’s operations are seven refineries and nearly 2,800 retail petrol outlets in Poland, Germany, the Czech republic, and Lithuania.
PKN’s nearly 23,000 employees produced 2009 sales revenues of PLN 79.5 million.