Europe“s third-largest soda producer, Polish chemical concern Ciech SA, aims to increase its consolidated revenue to PLN 4.0 billion (USD 1.23 billion/EUR 1.01 billion) by 2008, up from the current P…
Europe“s third-largest soda producer, Polish chemical concern Ciech SA, aims to increase its consolidated revenue to PLN 4.0 billion (USD 1.23 billion/EUR 1.01 billion) by 2008, up from the current PLN 3.5 billion (USD 1.08 billion/EUR 890 million) following the acquisition of chemical firms ZCh Zachem and ZCh Organika Sarzyna, company president Ludwik Klinkosz said on 30 March 2006. On 29 March 2006, Ciech took over 80% of Organika Sarzyna and Zachem for a total PLN 313 million (USD 95.9 million/EUR 79.4 million). Ciech forecasts earnings before interest, tax, depreciation and amortisation (EBITDA) to rise by over 12% by 2008. The company“s net profit increased to PLN 108.75 million (USD 33.3 million/EUR 27.6 million) in 2005 from PLN 76 million (USD 23.3 million/EUR 19.3 million) a year earlier. Revenue declined by 4.4% year-on-year to PLN 2.2 billion (USD 674 million/EUR 559 million) in 2005. Ciech produces soda ash, vacuum salt, phosphorous fertilisers, sodium silicate in lumps, ethylbenzene, dyestuffs and other chrome and phosphorus compounds.