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Grupa Azoty
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Grupa Azoty
Grupa Azoty S.A. (until 2013 Zakłady Azotowe in Tarnów-Mościce) is a major Polish chemical industry company headquartered in the Mościce district of Tarnów, in the Lesser Poland Voivodeship of southeastern Poland.
The company was established in 1927, during the Second Polish Republic, as one of the most modern factories in Europe at the time. Currently, Grupa Azoty is the largest chemical company in Poland and is a major producer of fertilizers, plastics, chemicals, oxo alcohols and pigments.
At the end of 2019, the group employed 15,609 employees in 50 companies located both in Poland and abroad. In 2022, Grupa Azoty posted a revenue of over 24 billion PLN ($ 5.5 billion). As of 2023, the company is the second largest producer of fertilizers in the European Union. The company markets its products to over 100 countries worldwide. Grupa Azoty is listed on the Warsaw Stock Exchange (WSE) and is a component of the WIG30 stock market index.
Since 2010, Azoty Tarnów have been undergoing a consolidation as one of the largest chemical enterprises in the country. The first significant event was its acquisition of 100% shares of the Unylon Polymers GmbH in Guben/Germany – polyamide manufacturing enterprise. The German business entered the Azoty Tarnów Capital Group and changed its name to ATT Polymers.
Another step involved consolidating the Polish chemical industry, by merging the largest companies in this sector on the domestic market. This began by amalgamating Zakłady Azotowe in Tarnów with Zakłady Azotowe in Kędzierzyn-Koźle (ZAK S.A.). Azoty Tarnów purchased 52.6% B series shares of ZAK S.A. for PLN 150 million.
In 2011, a decision was made to amalgamate Azoty Tarnów with Zakłady Chemiczne in Police (near Szczecin), with the State Treasury holding 60% of the shares. The Management Boards of both companies were in favour of the consolidation. Having obtained the consent of the Office of Competition and Consumer Protection and due to lack of objections from the German Federal Cartel Office, the facility in Tarnów began raising the funds necessary to complete the purchase. ZCh Police was successful in raising the funds for a controlling stake by issuing 25 million C series shares, approved by the Polish Financial Supervision Authority. Not only did these funds allow them to take over control over Police, but also to buy back another 40% of shares of the facility in Kędzierzyn from the state Treasury.
In 2012, Azoty Tarnów became the target of a hostile take-over bid by the Russian Acron Group. On 16 May, the Russian company attempted to take control of the Polish chemical company through its subsidiary Norica Holding S.à r.l. They announced a tender of PLN 36 per share for Zakłady Azotowe in Tarnów-Mościce. Acron Group managed to purchase only 12% of available shares. Steps taken by the company's management board and by the Polish Treasury, such as adoption by Parliament of legislation to control certain state investments, secured the enterprise against future hostile take-overs.
In 2023, Akron owned 19.82% of Grupa Azoty. These shares were frozen as Akron owner Viatcheslav Kantor came under European sanctions imposed in the wake of the 2022 Russian invasion of Ukraine. In July 2023, the Polish authorities transferred Acron's stake in Grupa Azoty to external management and began looking for a buyer.
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Grupa Azoty
Grupa Azoty S.A. (until 2013 Zakłady Azotowe in Tarnów-Mościce) is a major Polish chemical industry company headquartered in the Mościce district of Tarnów, in the Lesser Poland Voivodeship of southeastern Poland.
The company was established in 1927, during the Second Polish Republic, as one of the most modern factories in Europe at the time. Currently, Grupa Azoty is the largest chemical company in Poland and is a major producer of fertilizers, plastics, chemicals, oxo alcohols and pigments.
At the end of 2019, the group employed 15,609 employees in 50 companies located both in Poland and abroad. In 2022, Grupa Azoty posted a revenue of over 24 billion PLN ($ 5.5 billion). As of 2023, the company is the second largest producer of fertilizers in the European Union. The company markets its products to over 100 countries worldwide. Grupa Azoty is listed on the Warsaw Stock Exchange (WSE) and is a component of the WIG30 stock market index.
Since 2010, Azoty Tarnów have been undergoing a consolidation as one of the largest chemical enterprises in the country. The first significant event was its acquisition of 100% shares of the Unylon Polymers GmbH in Guben/Germany – polyamide manufacturing enterprise. The German business entered the Azoty Tarnów Capital Group and changed its name to ATT Polymers.
Another step involved consolidating the Polish chemical industry, by merging the largest companies in this sector on the domestic market. This began by amalgamating Zakłady Azotowe in Tarnów with Zakłady Azotowe in Kędzierzyn-Koźle (ZAK S.A.). Azoty Tarnów purchased 52.6% B series shares of ZAK S.A. for PLN 150 million.
In 2011, a decision was made to amalgamate Azoty Tarnów with Zakłady Chemiczne in Police (near Szczecin), with the State Treasury holding 60% of the shares. The Management Boards of both companies were in favour of the consolidation. Having obtained the consent of the Office of Competition and Consumer Protection and due to lack of objections from the German Federal Cartel Office, the facility in Tarnów began raising the funds necessary to complete the purchase. ZCh Police was successful in raising the funds for a controlling stake by issuing 25 million C series shares, approved by the Polish Financial Supervision Authority. Not only did these funds allow them to take over control over Police, but also to buy back another 40% of shares of the facility in Kędzierzyn from the state Treasury.
In 2012, Azoty Tarnów became the target of a hostile take-over bid by the Russian Acron Group. On 16 May, the Russian company attempted to take control of the Polish chemical company through its subsidiary Norica Holding S.à r.l. They announced a tender of PLN 36 per share for Zakłady Azotowe in Tarnów-Mościce. Acron Group managed to purchase only 12% of available shares. Steps taken by the company's management board and by the Polish Treasury, such as adoption by Parliament of legislation to control certain state investments, secured the enterprise against future hostile take-overs.
In 2023, Akron owned 19.82% of Grupa Azoty. These shares were frozen as Akron owner Viatcheslav Kantor came under European sanctions imposed in the wake of the 2022 Russian invasion of Ukraine. In July 2023, the Polish authorities transferred Acron's stake in Grupa Azoty to external management and began looking for a buyer.
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