PKN Orlen
From Wikipedia, the free encyclopedia
| PKN Orlen SA | |
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| Type | Public (WSE: PKN) |
| Founded |  Płock, Poland (1999) |
| Headquarters | Płock, Poland |
| Key people | Piotr Kownacki Executive Chairman |
| Industry | Oil and Natural Gas |
| Revenue | ▲ US $17.04 billion (2006)[1] |
| Net income | ▲ US $664 million (2006)[1] |
| Employees | 24,113 (2007) |
PKN Orlen (Polish: Polski Koncern Naftowy Orlen) is a major European oil refiner, and petrol retailer. The company as of June 2006 is Poland's and Central Europe's largest publicly traded firm with major operations in Poland, Czech Republic, Germany, and the Baltic States.
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[edit] Establishment
Orlen is Poland's and Central Europe's largest company. The firm is made up of the merger of Poland's two communist oil monopolies. PKN Orlen has its roots in the creation of C.P.N., Communist Poland's petroleum retail monopoly in 1944. In 1950s the second block of PKN Orlen was formed, Polski Koncern Naftowy (PKN). PKN was the state firm in charge of refineries in Płock, that grew to become the largest complex of its kind in Poland.
[edit] Privatization
In 1999 both firms were partially privatized and merged to create a retail and refining company under the name PKN Orlen. Today Orlen is the largest fuel retailer in Poland with over 2000 locations. It also has significant investment abroad including the buy out of Mažeikių Nafta, the acquisition of 500 filling stations in Germany and a majority stake in UniPetrol, a Czech refiner. PKN Orlen had been involved in talks with MOL, a Hungarian oil company in 2005. If merged the two firms would have created an international giant, and dominate Central Europe's oil industry. However the planned merger failed due to high politicalization. Following the dropped merger plans Orlen did buy a majority stake in Czech Unipetrol. The company in May of 2006 announced its largest investment ever, when it took over majority share of Lithuania's Mažeikių Nafta, the largest company in the Baltic States, from Yukos. When the takeover is complete PKN Orlen will be Central Europe's largest company.
PKN under a joint venture with Swiss firm Basell owns also Poland's largest plastic company.
Today the company has sales worth $20 Billion USD annually and a market value of 8,89 Billion USD. Orlen employs over 24,000 people in 4 countries.
In 2007 it was ranked 432 in the Fortune Global 500 and 679 in the Forbes Global 2000 list of companies[2][3].
[edit] Brands and Subsidiaries of Grupa Orlen (PKN Orlen Group)
- Basell Orlen Polyolefins (Plastics and synthetic materials)
- Orlen (Polish & German market petrol station brand)
- Petrochemia Płock (Polish market brand)
- PetroProfit (Polish Market Brand)
- PetroZachod (Polish Market Brand)
- Arge (Polish Market Brand)
- UniPetrol (Czech national petrol firm)
- Benzina (Unipetrol retail chain)
- Solino (Industrial brine manufacturer)
- Anwil (Polish Chemical Firm)
[edit] References
- ^ a b Orlen. Fact Book 2006. www.orlen.pl. Orlen. Retrieved on 2007-10-10.
- ^ The Global 2000 - Forbes.com
- ^ FORTUNE Global 500 2007: Countries - Poland
[edit] Websites
- PKN Orlen - Official Website of PKN Orlen
- Basell Orlen - Official Website of Basell Orlen Polyolefins
- Unipetrol - Official Site of Unipetrol
- Mažeikių Nafta - Official Site of Mažeikių Nafta
- PARAMO - Official Site of PARAMO
- (Czech) Benzina - Czech retail chain site
- (German) Orlen-Deutschland - Official Website of Orlen in Germany
- Photogallery of Płock - PKN Orlen
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