News Parkiet

Petrochemicals

J&S Energy expansion threatens other refineries

Independent Polish petrochemicals distributor J&S Energy is planning a major expansion on the local market, sources at a competing firm told PARKIET on Friday. J&S Energy, which is controlled by J&S Group, a Warsaw-registered holding company, is reportedly negotiating purchase of 600.000 tons of diesel oil from Mozyr refinery in Belarus. Existing market leader, PKN Orlen refinery sells about 3.8 million tons of diesel oil each year. Much smaller Grupa Lotos, which has an oil refinery in Gdańsk, sells marginal quantities of diesel oil.

Industry sources estimate that the deal could push J&S Energy's annual revenue to 4 billion zloty ($1.1 billion), up from PLN 2.5 billion in 2003.

Metals

Impexmetal up on privatization bids

Shares of Impexmetal, Poland's top non-ferrous metals trading company rose 4 percent to close at 36.5 zloty on Friday following the announcements that Polish Treasury Ministry has received four bids for the company. UK's Bancroft II private equity fund, Polish consulting firm Cornerstone Partners, Commerzbank subsidiary BRE Bank and Boryszew chemicals group have each made bids for the 31.5 percent of Impexmetal still in government hands.

Retailing

Metro tops Polish retail industry ranking

Germany's Metro AG once again took the top spot as Poland's largest retail distributor in a survey prepared by 'Handel', a trade magazine.

Metro, which operates Makro Cash & Carry, Real, Praktiker and Media Market, food, DIY and electronics chains reported total Polish sales of 11.6 billion zloty. Portuguese food retailer Jeronimo Martins took the second place, with sales of 4.2 billion zloty ($1.1 billion), just ahead of UK's Tesco, which moved from sixth to third place after buying Hit supermarket chain.

Logistics

Private mail companies invest in new capacity

Several top express delivery services firms have announced plans to invest a total of more than 50 million zloty to expand their logistical facilities this year. TNT Express and its two main competitors, DHL and Masterlink are each building large new shipping terminals to meet growing demand.