Grupa Azoty has signed an agreement with CTL Logistics under which it will take over certain special purpose vehicles, thus consolidating railway siding services in Kędzierzyn and Puławy. Grupa Azoty will acquire a 51% stake in CTL Kolzap (based in Pulawy, Poland) and a 51% stake in CTL Chemkol (based in Kedzierzyn) from CTL Logistics. In both companies Grupa Azoty currently owns a 49% stake.
From 1 January 2018, all companies managing railway sidings for Grupa Azoty will be included into its group. The railway siding services will be consolidated by Grupa Azoty KOLTAR, while CTL Logistics will remain Grupa Azoty’s strategic partner in transport activities. The transaction is estimated to increase the group’s annual revenue by PLN 60 million (USD 16.8 million) and reduce costs by PLN 8-9 million (USD 2.2-2.5 million).
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