The Unipetrol Group finished integrating its business activities.In the next period it will focus on improving efficiency of its core activities and on deepening the business cooperation with PKN Orlen.Warsaw, 18.06.2008 – The Unipetrol Group is prepared to face the current developments of the prices of feedstock and petrochemical products on the world markets. The already launched key development projects are also a good base for the future growth of the value of Unipetrol for the shareholders. This was announced today by the Chairman of the Board of Directors and CEO of the joint stock company, Mr. François Vleugels, during the Investor Day organised for the investors and analysts by PKN Orlen.
“ The assets restructuring is almost finished, we have simplified the management. Now the next phase awaits us, during which we are going to actively invest into the development of our copany“ – declared Mr. François Vleugels in Warsaw. The specific steps for further improvement of efficiency contain above all the ongoing assets optimisation, but also finishing the integration of Paramo. The new model of the company’s management, introduced steadily since 2006, should gradually lower the number of highest management employees in the Group by 77%.
This year the Unipetrol Group is planning total investment expenditure to the amount of CZK 6,5*) billion, which means an increase of almost one third in comparison with the last year. The biggest part of these investments will go into petrochemicals (circa 53 percent). 29% of the planned investments are earmarked for the ongoing refineries modernisation and 9% for finishing the rebranding and expansion of the Benzina retail network. Circa four percent of the investments will go into logistics improvement.
*) This sum includes also the total investments in Česká rafinérská and the Butadien Kralupy joint venture
UNIPETROL is a group of companies operating in the petrochemical industry in the Czech Republic. In 2005 UNIPETROL became part of PKN ORLEN Group, the largest downstream oil company in Central Europe. UNIPETROL primarily focuses on crude oil processing, fuels distribution and petrochemical production. In all these areas UNIPETROL group is one of leading players in both the Czech and Central European markets. UNIPETROL is one of the Czech Republic’s most important companies in terms of revenues (89 bn CZK) and it employs approximately 4,500 people.
Contact:
Blanka Růžičková
Spokesperson
UNIPETROL, a.s.
Telephone: +420 225 001 407, +420 731 881 111
E-mail: blanka.ruzickova@unipetrol.cz