Ciech to slash key investment, but boost Sodium production

2008-12-01 00:00

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2008-12-01 00:00

"Most likely in April or May 2009 our production capacity should increase to 2.2 million tones," said Ryszard Kunicki, president of Ciech. As a result, sales of sodium could account for 45 percent of total revenues, while it will account for 39 percent in 2008. "The market accepted our prices despite that we took into account growing costs. We could sell an additional several hundred thousand tones of sodium," said the CEO.

As opposed to other sector representatives, Ciech has so far not limited its production levels, but this might soon be the case for the TDI segment due to falling prices of the product in China. The firm also decided to postpone construction of a installation to manufacture amine. This project, which was the company's flagship new investment project and worth zł.450-500 million will be commenced at earliest at the end of 2009.

Ciech's revised strategy should be approved on December 16-17 and it will also include the acquisition of Anwil, after last week Orlen declared its willingness to dispose of it.

Sources: Parkiet, Rzeczpospolita (M.M.)

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Ciech to slash key investment, but boost Sodium production

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