The fate of Ciech, the largest chemical holding in this country, have come full circle. Rumour now has it that Ludwik Klinkosz, MD of venture capital fund Chemia Polska, is now earmarked for the top position at the holding. In 1996 there were plans to link Polska Chemia with Ciech and link in all the chemical sector.
Ludwik Klinkosz, who recently got a name for himself in the Polish press as a member of the supervisory board at Elektrim, says that he does not know who is getting the number one position at Ciech. However he is interested in taking part in the integration and restructuring of the chemical sector as well as seeking more cash pumped in. He wants to see a holding which is as large as possible created and says that his plans are very close to those of the treasury and Nafta Polska. Chemia Polska already has a holidng in Ciech. The value of it has not been made public but it is less than ten percent. It could increase its shareholding if some of the stateÃs 52 percent were released to it or it could buy some of the series C shares.