The foundation of Unipetrol in 1994 represented the completion of one of the gradual conceptual steps in the privatisation of the Czech petrochemical industry. Unipetrol was meant to unite selected Czech petrochemical companies into a conglomerate that would be able to compete with strong international groups. Represented by the National Property Fund, the Czech state was the majority shareholder with 63 percent. The remaining shares were owned by investment funds and small shareholders. The original concept was that the state’s interest in the company should be privatised.
Kaučuk, Chemopetrol, Benzina, Paramo, Koramo, Česká rafinérská, Unipetrol Trade, Spolana and Unipetrol Rafinérie were gradually integrated into Unipetrol.
Effective from 1 January 1996, refineries of Chemopetrol in Litvínov and Kaučuk in Kralupy were separated to be united within Česká rafinérská.
2003 – Merger of KORAMO and PARAMO. PARAMO became the legal successor.
2004 – Execution of agreement between PKN ORLEN and the National Property Fund concerning the sale of the 63% of UNIPETROL shares.
2006 – Sale of a majority interest in the SPOLANA subsidiary to Poland’s Zaklady Azotowe ANWIL.
UNIPETROL posted revenue of CZK 95 billion and a net profit of CZK 1.6 billion in 2006.
2007 – Sale of the KAUČUK subsidiary to Poland’s Firma Chemiczna Dwory. A new subsidiary, UNIPETROL SERVICES commenced operation. The legal form of UNIPETROL DOPRAVA, BENZINA and PETROTRANS was changed from PLC to LLC. Butadien Kralupy was formed, its shareholders being UNIPETROL (51%) and KAUČUK (49%). Subsidiaries CHEMOPETROL and UNIPETROL RAFINÉRIE merged with UNIPETROL RPA. Unipetrol purchased from CONOCOPHILLIPS shares representing a 0.225% interest in the share capital of ČESKÁ RAFINÉRSKÁ. Unipetrol acquired 14.51% of PARAMO shares from MEI group companies.
In 2007 UNIPETROL posted revenue of CZK 89 billion and a net profit of CZK 1.2 billion, making the Group one of the largest companies and major exporters in the Czech Republic. The UNIPETROL Group employs approximately 4,000 people.
2008 – Settlement of the sale of Agrobohemie and Synthesia shares based on share purchase agreements between Unipetrol and Deza. Unipetrol owned 50% of Agrobohemie shares and 38.79% of Synthesia shares. The purchase price for 47,000 Agrobohemie shares totalled CZK 503 million. The purchase price for 27,977,162 shares of Synthesia totalled CZK 680 million.
