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Polish government weighs in on oil refiner plans
Sep 26, 2008, 10:29 GMT
Warsaw - Poland's government signalled Friday it wants oil refiner PKN Orlen to focus expansion on the energy sector and shift away from chemicals.
Treasury Minister Aleksander Grad's comments to the Puls Biznesu daily came after PKN Orlen, Central Europe's largest company by sales, named a new chief executive this month after reports of boardroom conflicts.
Grad said while he's not planning to impose a new strategy for the company, he believes it should focus more on the energy sector.
'Orlen's management board must above all decide: to buy chemical group Ciech, or to sell (chemical unit) Anwil,' he told the business paper. 'A more interesting direction for investment for Orlen could be the energy sector.'
The Polish state holds at least 28.5 per cent of PKN Orlen's shares and has pressed the company to resolve internal differences and present a new strategy.
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