Aleksander Grad, the minister of the treasury, announced yesterday the government strategy for the chemical sector. There are supposed to be two groups founded. One of them would consist of Ciech in consortium with Azoty Tarnow, ZA Kedzierzyn and Anwil (the latter bought from PKN Orlen fuel giant). The second group would consist of ZA Pulawy, ZCh Police and PGNiG gas monopoly. The privatization process should be concluded in the middle of 2010.
“Ciech, Tarnow, Kedzierzyn and Anwil will build the best chemical group you can imagine. Anwil is a good modern company with access to oil and gas pipelines. Ciech will be the natural leader. We build consortium with this company to buy Anwil provided that PKN Orlen does not expect too high a price”, Jerzy Marciniak, ZA Tarnow CEO said.
Experts don’t like the strategy.
„This sector needs stabile source of materials and capital in order to develop. PKN Orlen might provide both. I see no synergies among Ciech, Tarnow and Kedzierzyn. The idea to merge Anwil with this group is good but where Ciech will take money from to pay for it?”, an anonymous expert in the chemical sector said.
“We build consortium with Tarnow and Kedzierzyn to strengthen our potential. This will let us quickly build a strong chemical group which then will be privatized”, Ryszard Kunicki, Ciech CEO said.