Indirect share of Ciech in the company's share capital is estimated at 92%.
In December 2007 Ciech took over a German manufacturer of soda ash and baking soda Sodawerk Stassfurt. Last year the German company produced approx. 450 thousand tonnes of soda, its revenues amounted to approx. EUR 76 million. By the end of 2008 manufacturing capacities of Sodawerk Stassfurt will increase to approx. 600 thousand tonnes of soda.
The transaction totalled EUR 75 million, and was financed from the own funds and resources acquired from issuance of bonds. In order to take over the German company, a special purpose entity, Soda Deutschland Ciech, was appointed, with 92% of the shares belonging to Ciech SA and the remaining 8% to its president, Jochen Ohm. According to the contracts concluded, Ciech SA will have purchased them by the end of 2009.
Thanks to the transaction the Ciech Chemical Group strengthened its position in the markets of the Czech Republic, Germany and Denmark. Furthermore, Ciech strengthened its position as second largest soda manufacturer in Europe.
