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Basic businesses within the CIECH Group will operate as separate companies

Pursuant to the provisions and objectives of the CIECH Group Strategy for 2019-2021, according to which CIECH is to become a diversified chemical holding, the Management Board of CIECH S.A. has adopted a plan to reorganise the Group. The plan provides for the separation of independent business entities in the form of subsidiaries, which are currently operating in the following seven basic areas: Soda, Salt, Agro, Resins, Silicates, Packaging and Foams. CIECH S.A. is to become a holding company with responsibility, among others, for defining the strategy of the Group and individual business units as well as standardisation and alignment of implemented support functions.

 

At the moment, the basic business activity is carried out by the following Group companies: CIECH Soda Polska (in the area of soda and salt in Poland), CIECH Soda Romania (in the area of soda and silicates production in Romania), CIECH Sarzyna (in the area of production of resins and plant protection products), CIECH Vitrosilicon (in the area of silicates and glass packaging production), CIECH Pianki (in the in the area of polyurethane foam production) and CIECH Soda Deutschland (in the area of soda ash and sodium bicarbonate production in Germany), as well as the Spanish company – Proplan – acquired in 2018 (distribution of plant protection products on three continents).

 

The purpose of the changes is to create a structure within the framework of which each business area, called a business unit, will operate as a separate subsidiary of CIECH S.A., responsible for the implementation of the strategy and financial results. In the target model, individual companies will be responsible, among others, for the process of purchasing raw materials, production, customer support and sales. In addition, further simplification of the CIECH Group structure is being planned, involving mergers or liquidations of other companies of lesser importance for the Group.

 

As a result, a transparent holding of chemical companies will be created, operating in basic, independent business areas, reporting transparently to all stakeholders. These changes will also positively affect the efficiency of business processes throughout the Group, increasing CIECH's flexibility on global markets.

 

Due to the complexity of the process, the need to obtain numerous administrative approvals and decisions, and to carry out intra-group processes, such as divisions, capital increases requiring registration by competent courts, etc., the plan will be implemented by the end of 2022.

 

The concept of reorganisation has been prepared in consultation with renowned tax and legal advisors in order to ensure that the concept is implemented in a transparent and safe manner – both from a legal and tax point of view, in particular, taking into account the legal environment, including applicable regulations and their current interpretation by tax authorities.

 

- We embark on the next stage of implementation of the strategy for 2019-2021. In addition to dozens of initiatives aimed at increasing production efficiency, resource use and expansion in the area of new products and markets, we have also prepared a plan for the reorganisation of the Group, with a view to harmonising and improving operational processes. We operate in seven production areas of varying scale and conditions attributable to market specifics, regulation or availability and valuation of raw materials. Therefore, organising the activities of individual business areas, increasing their subjectivity and independence in everyday operations with customers or suppliers, by establishing companies that fully manage the relevant business, is so crucial. However, the task of CIECH S.A. will be setting strategies, defining operating standards, as well as creating and maintaining an appropriate organisational culture – says Dawid Jakubowicz, President of the Management Board of CIECH S.A.

 

 

CONTACT DETAILS

Mirosław Kuk, Press Spokesperson of the CIECH Group

miroslaw.kuk@ciechgroup.com, tel. +48 723 66 86 86

 

CIECH is an international, expanding chemical group, with a strong standing on European and global markets and with a stable strategic investor (Kulczyk Investments). The company exports its products to over 100 countries around the world, including soda ash, purified soda, salt, plant protection agents, epoxy and polyester resins, polyurethane foams, silicates, and glass packaging. CIECH manufactures products of the highest, world-class quality, which are further used to produce articles which are essential in the everyday life of people all over the world. At the same time, it combines a modern approach to business with the tradition of production which dates back to 1882. Since 2005, the company has been listed on the Warsaw Stock Exchange and, since 2016, on one of the largest stock exchanges in Europe: Börse Frankfurt. More information is available at www.ciechgroup.com.

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