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Ciech

Szukaj

HISTORY OF THE CIECH GROUP

 

Few companies in Poland have an equally rich history as the seventy-year history of CIECH, which clearly reflects the developments in the economy and industry of our country.

The Company was founded in 1945 as state-controlled "Centrala Importowo-Eksportowa Chemikalii i Aparatury Chemicznej" (Import-Export Centre for Chemicals and Chemical Instruments). From the very beginning, the company was exporting its products — soda ash, carbide and zinc white — to 12 countries.

 

The first registered office was located in Łódź. In 1946, after just one year, it was moved to Warsaw.

In the following years, the company continued its operations, exporting its products to an increasing number of global markets.

 

In the early 1960s, the company was renamed "Centrala Handlu Zagranicznego CIECH" (Foreign Trade Centre CIECH), in which "CIECH" was an abbreviation of the name "Centrala Importowo-Eksportowa Chemikaliów" (Import-Export Centre for Chemicals). 

 

The 1960s and 1970s brought the company successes on the sulphur market (when Polish "yellow gold" held the second place in the world in export of this raw material), nitrogenous fertilisers, pharmaceuticals, cosmetics, paints and varnishes.

 

In 1976, nearly 95% of Polish chemical products were sold on foreign markets through CHZ CIECH. 

At the turn of the 1980s, at the beginning of the political transformation, CIECH was the largest foreign trade centre, with a monopoly for the delivery of oil to Polish refineries.

 

In the 1990s, at the time when the centre celebrated its 45th anniversary, it held the 97th place in the top one hundred leading companies the world.

 

Poland's transition from a centrally planned economy to a free market economy entailed the loss of the monopoly for the delivery of oil. This coerced the company to transform into a modern and free market chemical company.

Therefore, in the 1990s, the company initiated the process of building a capital group, concentrating major national manufacturing sites around itself.

 

By the year 2000, CIECH S.A.  managed to group 8 renowned chemical manufacturers: Vitrosilicon (since 1991, currently: CIECH Vitrosilicon), Fosfory (in the Group in 1995-2011), Soda Mątwy and Janikosoda (since 1996, currently: CIECH Soda Polska), Boruta Kolor (in the Group in 1999-2008), Petrochemia Blachownia (in the Group in 1999-2006), Agrochem Dobre Miasto (in the Group in 1999-2011), and Alwernia (in the Group in 2000-2013).

These transformations were crowned by the company's entry to the Warsaw Stock Exchange in 2005, which proved a great success.

 

It provided the company with access to capital and means of implementing bold activation measures. 

 

As a result of the Company's listing on the stock exchange, its prestige increased, along with credibility and brand recognition.

One year later, the Company confirmed its position as one of the leaders of the European chemical industry by completing the purchase of the first foreign manufacturing subsidiary of the Group, a Romanian soda factory, US Govora (currently: CIECH Soda Romania).

 

ZCh Organika-Sarzyna (currently: CIECH Sarzyna) was also purchased in the same year. 

 

In 2007, the company also acquired a German soda manufacturer, Sodawerk Stassfurt (currently: CIECH Soda Deutschland), and fortified its position as the second soda manufacturer in Europe.  

The key period in the recent history of the Company are the years of economic downturn. In that period, the Company,mainly due to investing in currency options, which were popular at that time, lost its financial capacity for timely payment of of credits and found itself facing a real threat of bankruptcy.

 

In May 2012, the Supervisory Board appointed Dariusz Krawczyk as the President of the CIECH S.A. Management Board. The new president received the difficult task of saving the company. A quickly accepted and consistently implemented restructuring plan, based on three main priorities: the reversal of the negative trend in financial results, the restructuring of costs and organisation, as well as investment in new manufacturing capacities, took the company out of the profound crisis.

As a result of the actions taken, the Group regained profitability and began to recover its market value. 

 

This positive change was emphasized in 2014, when the company acquired a new majority shareholder, the international investment group Kulczyk Investments, with many years of experience in transforming companies into market leaders.

Today, thanks to the support of the long-term investor with a strong capital base - Kulczyk Investments, CIECH can look forward to undertaking new challenges and market projects with optimism. 

 

We want to be the company that sets the standards in terms of modern management, innovation, high product quality and co-operation with customers and business partners. We are building a Group with a robust and strong international position.

 

An organisation distinguished by its reliability, competitiveness and respect for the natural environment. We are building the value of CIECH with our employees and shareholders, and we share our successes — says Maciej Tybura, President of the Management Board, CIECH S.A.

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