Unipetrol acquire Czech Republic company in €1mn deal

Unipetrol to acquire Czech Republic company in €1mn deal

11:00 AM, 14th June 2016
Unipetrol to acquire Czech Republic company in €1mn deal

PRAGUE, CZECH REPUBLIC: Unipetrol RPA, a wholly owned subsidiary of Unipetrol AS has signed a share purchase agreement with Anwil SA, under which it will acquire 100 percent shares in Spolana AS (a subsidiary of Anwil), for €1 million.

Completion of the transaction is expected within one week from the signing date.

The transaction supports overall Unipetrol’s reorganization of activities, which were triggered by taking full control over the refining assets in the Czech Republic. Acquisition of Spolana will enable the Unipetrol Group to better plan and optimise the production function, prepare for planned commissioning of the polyethylene unit (PE3) installation in the future and to make it more resilient to the external conditions.

Spolana is a chemical company located in the Czech Republic. Main business is manufacturing and sale of chemical products such as polyvinyl chloride (PVC), caprolactam, fertilizers, inorganic compounds and other chemicals. The company‘s primary focus is the export of its products, with exports accounting for more than 80 percent of its production. Spolana currently employs approx 700 people.

“We see the acquisition of the Spolana company as a very important step for further improvement of management and coordination of our value chain, namely with regard to the utilisation of the steam cracker. Both companies are connected with the Litvinov - Neratovice piping system for product deliveries. Spolana is a major consumer of ethylene, as well as also purchasing ammonia and sulphur from Unipetrol RPA,” said Marek Switajewski, CEO of Unipetrol.

© Worldofchemicals News


Read the latest news from Unipetrol:

Unipetrol breaks ground for new polyethylene unit in Czech Republic

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