Alerts Energy 16 October, 2023 7:30 am   
COMMENTS: Marcin Karwowski

Orlen’s acquisition spree continues

WhatsApp-Image-2022-08-05-at-11.42.39-1536×1152 PKN Orlen. Picture by Jędrzej Stachura

Orlen signed an agreement with the Industrial Development Agency to purchase the majority of Energop shares. The company specializes in the supply of high-tech pipelines.

Orlen bought more than 74 percent of the shares of Energop, thereby increasing its potential for industrial investments. The new acquisition of the Orlen Group specializes in the comprehensive prefabrication of pipelines, tanks and steel structures for them. This is an important step towards the implementation of the Orlen Group’s 2030 strategy. The condition for signing the agreement was the decision of the president of the Office of Competition and Consumer Protection, who gave his consent. The remaining shares are owned by the state treasury.

“The entry of Energop from Sochaczew into the Orlen Group is a mutually beneficial transaction. Energop is one of the largest Polish capital groups. Working for the Płock concern guarantees development for the company and the people employed there. Employees can be sure that their jobs will not disappear, and that the company has guaranteed stability for many years. In turn, Orlen adds to its assets an experienced company that has executed and is executing contracts in Poland and abroad. Energop has highly qualified personnel and resources that will help Orlen comprehensively secure the implementation of many industrial investments that the Płock company plans to carry out in the coming years,” says Maciej Małecki, Deputy Minister of State Assets.

In recent years Orlen has increased the number of acquisitions in the energy and fuel sector: Energa, Grupa Lotos, PGNiG, EuRoPol Gaz. The acquisition of Lotos involved the implementation of remedial measures agreed on with the European Commission to protect the market from a monopoly, including the sale of part of the assets and the admission of Saudi Aramco to become a 30 percent shareholder of the Gdańsk refinery and get 50 percent of its products . Now Energop is joining this Group.

Orlen / Marcin Karwowski