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Poland’s Organika signs Russia polyols JV


Poland’s leading PU foam manufacturer Malborskie Zakłady Chemiczne Organika (Malbork Chemical Plants Organika) has signed a letter of intent with an unnamed Russian company to jointly build a production facility in Kemerovo, Russia.
The Polish group is to have a 60% stake in the plant, which will make polyether polyols. The estimated cost of the project was not revealed by the manufacturer.
Organika has two PU foam factories in Russia, based in Kuznieck and Aleksandrov.
In the first half of 2011, Organika posted revenues of 198.56m zloty (€45.44m), up 4.1% over the same period a year earlier, and a net loss of 1.83m zloty (€419,000), down from a net profit of 1.08m zloty (€247,000m) in the first six months of 2010.
Organika’s most recent financial results were improved by the increased sales of its Russian, Belarusian and Czech subsidiaries, the group said in its H1 2011 report. However, its units in Romania, Bulgaria, Serbia, and Bosnia and Herzegovina were in the middle of a restructuring process which decreased their profit margins, the report said.
Organika has assets worth a total of 338.22m zloty (€77.4m), according to data from the company. The Polish business supplies its PU foam to a range of companies from the automotive, toy, household products, construction materials and furniture industry.
Established in 1976, Organika operates three Polish PU foam production and processing facilities in Malbork, Pogalewo and Czestochowa, and has a further seven PU foam plants in seven Eastern European countries. The company’s latest investment was the launch of a PU foam factory in Luninets, Belarus, in May 2010.


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