On Thursday, November 21st, an agreement was signed stipulating that the Treasury will transfer 4,675,000 shares (85% of share capital) of Kopalnia i Zakłady Chemiczne Siarki “Siarkopol” S.A. to Grupa Azoty.
The ceremony of signing the documents preceding the takeover of “Siarkopol” by the Capital Group was attended by the Minister of Treasury Włodzimierz Karpiński, Grupa Azoty CEO Paweł Jarczewski, and the Vice Chairman of the Board of Azoty Witold Szczypiński.
The Minister of Treasury emphasized the fact that the sale of “Siarkopol” shares to Grupa Azoty means that it was possible to find a good investor for the Company. He remarked that the agreement between the Treasury and the Capital Group to sell 85% of “Siarkopol” shares is the largest such transaction in the sector since November 2011.
Merging the potentials
The takeover of “Siarkopol” is of key importance for the Group, mainly due to its current market position and investment plans. We mustn’t forget that Grupa Azoty is now the second largest manufacturer of nitrogen-based and complex fertilizers in the European Union. After the purchase of “Siarkopol”, the Capital group will include the only enterprise in the world which specializes in excavating sulphur, and one of the main exporters in Świętokrzyskie voivodeship. According to the Vice Chairman Witold Szczypiński, thanks to the use of trade experience of Grupa Azoty, “Siarkopol” will gain access to new markets for its products. At the Warsaw meeting, Group CEO Paweł Jarczewski declared that investments in “Siarkopol” will be worth at least 30 million PLN.
A forecast for “PUŁAWY”
Our Works are looking forward to cooperation with “Siarkopol”, seeing that sulphur is essential for fertilizer production in Puławy. In June 2013 we completed a 6 years’ research project, whose conclusions included a strong recommendation to produce fertilizers with the addition of sulphur. New Fertilizer Complex, which has recently been launched, has enabled us to introduce new nitrogen-based fertilizers containing sulphur on the market. In a year we constructed a plant for the production of liquid fertilizers called PULASKA and RSMS, while next year we will be launching the production of new NS-type fertilizers in granules.