Orlen’s sale of Polska Press will be preceded by the restructuring of this company, which could take about a year, Orlen’s president Ireneusz Fąfara said.
– A sensible restructuring of Polska Press will take about a year. And we want to first restructure this company in order to sell it for fair money – said Fąfara speaking to journalists.
The head of Orlen added that the group also includes other companies whose possible sale is currently being analyzed as part of the work on updating the strategy, which will be announced in December.
– We are talking about companies like Sigma-Bis or Ruch, which do not fit into our core activities – he added.
The Orlen Group operates refineries in Poland, the Czech Republic and Lithuania, conducts retail activities in Central Europe, mining activities in Poland, Norway, Canada and Pakistan, and is also involved in energy production, including renewable energy sources and natural gas distribution. As part of the construction of a multi-energy group, the company completed the acquisitions of Energa, Grupa Lotos and PGNiG. Consolidated sales revenues amounted to PLN 372.64 billion in 2023. The company has been listed on the WSE since 1999; is included in the WIG20 index.
Purges in Orlen
After the KO-Trzecia Droga-Lewica coalition came to power, changes took place in the composition of supervisory boards in the boards of directors of state-owned enterprises and the boards controlled by them. They also influenced Orlen. Donald Tusk’s team continues to “despise” the state, and the purges carried out in Orlen are aimed at getting rid of Daniel Obajtek’s people.
– No one who donated money to PiS will survive – says a person close to Orlen’s management in an interview with Money.pl. The company is also looking for ‘avatars’. These are people who get paid, but don’t show up for work. There are at least some cases.
A total of 450 people have been dismissed from the Polish group since Ireneusz Fąfara became president of Orlen.
Source: Do Rzeczy
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
