Prague, 18 November 2015 – Unipetrol Group consolidation project aiming at optimization of the capital group structure enters a new phase. The current step of the longtime process will involve a merger of two companies, Benzina and Unipetrol RPA. The latter will remain the main company of the Group. The project is in line with the ORLEN Group strategy. The goal of the streamlining the structure is to bring further improvement in business operational excellence.
“The consolidation of the Unipetrol Group structure is one of the key goals in our mid-term strategy. It will simplify organizational and administrative structure leading to more efficient operation of individual companies and additional savings. Project, which strengthens the company’s position on the Czech market becomes possible thanks to, among others, earlier acquisition of refining assets from Shell and Eni” - says Marek Switajewski, Chairman of the Board of Directors and CEO of Unipetrol.
The merger of Benzina and Unipetrol RPA aims at better adjusting Unipetrol Group to function in a highly demanding and very competitive market and open it to new business challenges. It will not affect the consumers of the leading Czech filling stations network. The company will operate as a branch, therefore it will be an integral part of Unipetrol RPA - a number one producer on the Czech market in the area of refining, petrochemical and agrochemical raw materials.
The Unipetrol Group will continue with Operational Excellence projects and also investments. These currently includes construction of a new polyethylene unit (PE3) at Litvinov plant. The biggest investment in the history of the Czech petrochemical industry will be one of the most modern production facilities of this kind in Europe. The value of the signed agreement amounts to 5.76 billion CZK. The overall project costs are estimated at 8.5 billion CZK. The unit is expected to be put into operation in the middle of 2018.
The company also used the opportunity to acquire the additional shares in Ceska Rafinerska. On the April 30th 2015 Unipetrol became the sole owner of that company and as finally an unlimited right to perform the optimization in production in a way most relevant for the targets of the whole company.
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UNIPETROL, a.s. controls companies, which are active in the petrochemical industry in the Czech Republic. In 2005, UNIPETROL became part of PKN ORLEN Group, the largest processor of crude oil in Central Europe. The UNIPETROL Group is mainly focused on processing of crude oil, distribution of fuels and petrochemical production. In all of these areas, the UNIPETROL Group is an important player in the Czech Republic and also on the market in Central Europe. In the Czech Republic, the group is one of the most important companies with regards to turnover and employs approximately 3,800 people.
Contact:
Mikuláš Duda
Press Department Manager, UNIPETROL, a.s.
Phone: +420 225 001 407, +420 736 502 520
E-mail:
mikulas.duda@unipetrol.cz