Unipetrol likely to move some units to Poland

At the end of last week, Unipetrol management shortlisted three firms, two of them from Poland, out of ten bidders to the last round of the tender for Kaucuk. MfD says it was Polish chemical company Dwory, Polish firm Ciech and an unnamed financial investor. The selected suitors allegedly did not submit the highest price bid.

Unipetrol only let two bidders also to the last round of the tender for Spolana, namely the Polish firm Anwil of PKN Orlen group and the Hungarian company BorsodChem.

The new owner of Spolana should be picked by the end of June and the winner of the tender for Kaucuk three months later, said Unipetrol head Francois Vleugels. The criteria of the tenders were not published, they should include the price, the development of the firm and maintenance of relations within the group.

Kaucuk is one of the largest producers of rubber for the footwear and rubber industries and also manufactures polystyrene and other building material. Sales topped CZK 10 billion and net profit reached CZK 440 million last year.

Spolana is the only Czech producer of PVC and plastics for further processing. Its sales hover above CZK 4 billion a year and last year's net profit amounted to CZK 183 million.

PKN Orlen bought a majority stake in Unipetrol from the Czech state for CZK 13 billion two years ago.

Source:praguemonitor.com