Polish chemical manufacturer Ciech plans to acquire soda producers in Romania, Germany or Ukraine in 2006 and has allocated between PLN 500 million (USD 155.7 million/EUR 127.2 million) and PLN 600 mi…
Polish chemical manufacturer Ciech plans to acquire soda producers in Romania, Germany or Ukraine in 2006 and has allocated between PLN 500 million (USD 155.7 million/EUR 127.2 million) and PLN 600 million (USD 186.7 million/EUR 152.6 million) for the purpose, the company said on 18 April 2006. The company has been negotiating the takeover of Romanian soda plant USG Govora for the past 18 months. The major obstacle is the complex financial and legal status of the Romanian company and its ownership, Ciech spokesman Marek Klat said. After the takeover, Ciech would become the second largest soda producer in Europe with a market share of 20%. It is currently the third largest behind Belgium“s Solvay and Britain“s Brunner Mond. In 2006, Ciech has already taken over two Polish chemical plants Zaklady Chemiczne Zachem and Zaklady Chemiczne Organika Sarzyna for PLN 313 million (USD 97.4 million/EUR 79.6 million).