Unipetrol Group to amalgamate several units

02-Aug-07
As part of its ongoing transformation, Czech petrochemicals company Unipetrol Group plans to amalgamate Chemopetrol, Unitpetrol Rafinerie and Unipetrol Refineries, Petrochemicals, Agrochemicals units by way of a merger. Chemopetrol and Unitpetrol Rafinerie will be wound up without liquidation and all of their assets, liabilities and rights, including labor law obligations, will be transferred to their successor, Unipetrol Refineries, Petrochemicals, Agrochemicals (Unipetrol RPA). The main advantages of the merger include: Simplified flows of intermediate products within a single company and better use of existing synergies more efficient internal sourcing, the sale of its own products within the group and better control over the entire production and sales chain, from crude oil purchase to customer care. The merger will retduce administrative expenses and increase bottomline of the entire Unipetrol group.
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