Monday, February 05, 2007

Kedzierzyn nitrogen plant is put up for sale for the third time

The Ministry of the Treasure is again trying to sell ZA Kedzierzyn. Anwil is a potential buyer, PGNiG eyes the nitrogen producer as well. Foreign companies are not interested.

The privatization process will be officially launched in February. Kedzierzyn needs funds for investment. Recently the state deprived it of a chance to get them when it did not let German Petro Carbo Chem (PCC) to buy the chemical producer. In the previous tender, PCC and Anwil owned by PKN Orlen fought for Kedzierzyn.

“We have confirmed that we are still interested in Kedzierzyn”, Benedykt Michewicz, Anwil CEO said.

PGNiG, Polish listed gas monopoly should also be interested in the company but provided it becomes investor of the other chemical producers, i.e. Pulawy and Police. Krzysztof Glogowski, PGNiG CEO a week ago told “PB” that such investment projects are possible.

Foreign companies will probably not be interested in the transaction because they are discouraged by PCC case.

“We are not interested in the privatization of the Polish chemical sector as long as it is so political”, Ryszard Kunicki, the CEO of Yara Poland, the world’s biggest nitrogen fertilizer producer said.