Ciech chemical producer faces competition to acquire Romanian soda plant

APA - Austria Presse Agentur
opublikowano: 02-11-2005, 14:18

Warsaw (Puls Biznesu) - Ciech, the Polish listed chemical producer, has built its strategy on soda production. It has Poland's two sole soda producers, i.e. Janikosoda and Soda Matwy. Ciech plans to acquire soda plants owned by Romanian Bega Group. Unofficial sources say that a Hindu company is also trying to buy them.

Warsaw (Puls Biznesu) - Ciech, the Polish listed chemical producer, has built its strategy on soda production. It has Poland's two sole soda producers, i.e. Janikosoda and Soda Matwy. Ciech plans to acquire soda plants owned by Romanian Bega Group. Unofficial sources say that a Hindu company is also trying to buy them.

They proposed double the price proposed by Ciech, "Puls Biznesu" source said.

Ciech representatives admit they are worried.

Negotiations are still going on, there is a short list, but we have not made binding offer yet. Rumours that Hindu offer is twice as big as ours are too early, Marek Klat, Ciech spokesman commented.

Ciech planned to acquire the Romanian producers at the end of 2005 or in the first quarter of next year.

In the first half of the year, Ciech had PLN 49.94m (EUR 12.5m) of net income against PLN 46.34m a year earlier. Sales amounted to PLN 1.1 billion and were equal to last year's.

(PLN 1 = EUR 0.250)

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Podpis: APA - Austria Presse Agentur

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