“PUŁAWY” without a fear
Economic slowdown in Poland in the second half of 2012 belied our image of a “green island” in Europe, the only country in the region which resisted the global recession. Fortunately, people in “PUŁAWY” know very well how to manage in such conditions.
Economic paradox or a pragmatic approach?
We all remember the worldwide crisis of 2008 and 2009, when even the largest economies suffered problems. However, at that time the shareholders of “PUŁAWY” received the highest dividends in the history of the enterprise. How was it possible? In our case, timely investment projects proved to be the solution to the global downturn.
An example of such strategy was the decision taken by the Board in 2001 to build two installations for production of melamine, despite poor economic indicators at that time. The investment cost 600 million PLN. Melamine is used for manufacturing of laminates, furniture and flooring panels. Following this investment, “PUŁAWY” started their expansion on the global markets. Another vital project was the extension of the installation for urea manufacturing, after which the company became the second biggest urea producer in Europe. At present, work is under way to launch production of fertilizers from urea and sulfur and production of plant extracts used in cosmetics, pharmaceutical and food industries.
Another achievement of “PUŁAWY” concerns the production of caprolactam, an important substrate for the manufacturing of plastic. We are now the third company in the world when it comes to the production capacity of this substance. All this would have been impossible without the key investments in the development of human resources and personnel training. There would be no talk of success in “PUŁAWY” without those activities.
The company is currently preparing for consecutive stages of consolidation with Grupa Azoty. Merger of the two enterprises is not only a major economic challenge, but also a demanding task in terms of logistics. What remains certain is that the foundation for cooperation lies in innovative approach and further investments. Bold steps forward are the best defense against the crisis.