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Poland Chemicals Report 2009Published by: Business Monitor International Published: Jul. 13, 2009 - 29 Pages Table of Contents
AbstractMarket StructureThe chemical segment in Poland is largely state-controlled, but the government is making moves to makethe sector more competitive. The Polish government has revived its privatisation efforts and is aiming toexit the chemicals sector ? in which it operates 19 firms ? by 2011. It is seeking foreign buyers, althoughthe global economic downturn threatens to derail the privatisation drive. Industry observers also note thatmany plants are either too complex or lack the international scale needed to interest overseas investors.Local production has not increased substantially during the past few years. Business Environment Poland attracted an estimated EUR12bn in foreign direct investment in 2008. However, foreign directinvestment in Poland could tumble nearly 17% to EUR10bn in 2009 as a result of the downturn in theworld economy. Poland's slowing economic growth also will be a factor that influences foreign directinvestment over the near term. With eurozone consumption cooling and international credit marketsremaining tight, BMI believes momentum for the economic growth cycle will be distinctly lacking. Industry Developments Ciech ? which has formed a consortium with Azoty Tarnow and ZA Kedzierzyn to buy Anwil fromPKN Orlen ? has said that the purchase of Anwil could be delayed until Q309. PGNiG is consideringacquisitions in the chemical and power sectors. German firm Petro Carbo Chem (PCC) also is eyeingtargets in the Polish chemical sector. PKN Orlen aims to invest US$1.4bn over the next five years todouble its petrochemical production, and wants to become a key supplier for Polish chemicals firms. Fertiliser firm ZA Pulawy intends to reduce its capital expenditure in the 2009 fiscal year because of theeconomic downturn. State-owned Azoty Tarnow failed to sell all of its planned shares in its initial publicoffering. Demand for the privatisation offering was low, and other state-run firms ended up picking upshares. EU REACH Regulation The European Chemicals Agency (ECHA), which governs the registration, evaluation, authorisation andrestriction of chemicals (REACH) process, published in June 2008 an initial list of 16 candidatesubstances to come under the authorisation of REACH. Member states also have the right to nominateadditional substances to the official candidate list. The European Trade Union Confederation (ETUC)unveiled its own proposed list in March 2009. The European Chemical Industry Council (Cefic) criticisedthe ?Trade Union Priority List for REACH Authorisation,' saying the ETUC had no authority to publishsuch a list. Poland's deadline for meeting REACH stipulations has been set at 2011. Get Full Details About This Report >> |
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