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Unipetrol: firms improve their results

Article Abstract:

Unipetrol (Kralupy nad Vltavou, Czech Republic), holding refining and petrochemical company, improved its economy in 2000. All the firms from the group Unipetrol improved their economic results in 2000, except Paramo (Czech Republic). Unipetrol acquired Paramo at the end of 2000. The improvement of the firm's results was influenced by the high prices of oil on world exchanges. Unipetrol holds 100% stakes in Kaucuk (Czech Republic) and Chemopetrol (Czech Republic), more than a 90% stake in Benzina (Czech Republic), a 51% stake in Ceska rafinerska (Czech Republic) and a 72.8% stake in Paramo.

Statistical Data Included, Brief Article

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The group Unipetrol increased its proceeds in 2000

Article Abstract:

Unipetrol (Kralupy nad Vltavou, Czech Republic), holding petrochemical company, increased the profit of all its group to CEK 3.16 bil in 2000 compared to CEK 1.92 bil in 1999. Unipetrol's consolidated proceeds totalled CEK 63.6 bil in 2000 compared to CEK 41.97 bil in 1999. The state is preparing the privatization of Unipetrol.

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Unipetrol should acquire the chemical firm Spolana, having acquired Paramo

Article Abstract:

Unipetrol (Kralupy nad Vltavou, Czech Republic), holding petrochemical company, will acquire Spolana (Neratovice, Czech Republic). The direct sale of a 81.61% state stake in Spolana was decided by the government on 14 May 2001. The price has not been fixed. The plastic and chemicals producer Spolana has seen losses of several hundreds of millions of Czech crowns since 1996. Its debts were more than CEK 6 bil in 1999. The firm's payables decreased to a half after the partial clearance of debts realized by Konsolidacni banka (Czech Republic). Unipetrol has to promise to decrease Spolana's debts by 25% and to invest CEK 3.003 bil in the firm by 2005. Besides, Unipetrol has to ensure the supplies of the necessary quantity of ethylene from Spolana to Chemopetrol (Litvinov, Czech Republic).

Asset sales & divestitures, Acquisitions & mergers, Chemicals & Allied Products, Chemical Manufacturing, CHEMICALS AND ALLIED PRODUCTS, Chemicals, SPOLANA a.s.

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