Tuesday, 28 July 2009

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 govenrments have failed to tackle the issue.

Now, according to Poland's Gazeta, the latest set of plans are under threat. It says: "Mr Grad's privatisation plan was to be discussed by the cabinet today. But it won't be. 'The Council of Ministers' Permanent Committee has asked for legal opinions concerning the planned sale of certain companies,' Treasury spokesperson Maciej WewiĆ³r told Gazeta last night."

ICIS news says that last week, Poland said it was has expanded its privatisation programme, with major stakes in fertilizer, titanium dioxide (TiO2) and biofuel producers a key element.

"A minority stake in the second-largest Polish refiner and biofuels producer, Grupa Lotos, was among the assets newly announced as available to investors.

The treasury ministry also reiterated its determination to see Poland’s largest fertilizer maker, Zaklady Azotowe Pulawy (ZAP), as well as the country’s second-largest fertilizer producer, Zaklady Chemiczne Police (ZChP), sold off during next year.

Initial bids for the flagship package of the process - Ciech, Zaklady Azotowe Kedzierzyn (ZAK) and Zaklady Azotowe Tarnow (ZAT) – need to be lodged by 10 September."

1 comment:

  1. I recently came accross your blog and have been reading along. I thought I would leave my first comment. I dont know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.




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