The company UNIPETROL RPA, s. r. o. concluded a share purchase contract with the company ANWIL S.A., under which it will acquire a 100% shareholding in the company SPOLANA a.s..
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 PE3 installation in the future and to make it more resilient to the external conditions. The purchase price of this shareholding is 1 million EUR.
Unipetrol Group consolidation project aiming at optimization of the capital group structure has already included the companies like Benzina and Polymer Institute Brno. The main company of the Group remains Unipetrol RPA. The project is in line with the Unipetrol Group strategy and its goal is to better adjust the Company to function in a highly demanding and very competitive market and open it to new business challenges.
“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,“ said Marek Świtajewski, CEO of Unipetrol. “Takeover of Spolana opens up additional possibilities to further strengthen and integrate Unipetrol’s position in the Czech Republic,“ added Marek Świtajewski. Both companies are connected with the Litvínov – Neratovice piping system for product deliveries. Spolana is a major consumer of ethylene, as well as also purchasing ammonia and sulphur from Unipetrol RPA.
Spolana is a chemical company headquartered in Neratovice in the Czech Republic. It was founded in 1992. Spolana’s main activity is the production and sale of chemical products such as PVC, caprolactam, industrial fertilisers, inorganic compounds and other chemicals. The company‘s primary focus is the export of its products, with exports accounting for more than 80% of its production. Spolana currently employs approximately 700 people.
Source: Unipetrol
It is LYB’s ambition to further develop the company’s unique solvent-based technology for low density polyethylene (LDPE) and build commercial plants in the future. This will enable LYB to produce new high-purity materials that can be used in applications like flexible packaging for personal care products, meeting the demands of customers and brand owners.
The company also announced a comprehensive cost reduction program with anticipated annualized pre-tax savings of approximately $175 million once fully implemented, including savings of $60 million in 2025. The multi-year program is focused on reducing structural costs primarily in Europe and in certain other global businesses.
The businesses outside these core areas will either be sold to new owners or integrated into partnerships. In some cases, businesses will be closed down responsibly. Altogether, the businesses affected by these changes generate €350 million in sales.
