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Wednesday, May 29, 2024

Ciech changes its name to Qemetica

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The Ciech Group announced that it will change its name to Qemetica in June. The company also announced that its new strategy for the next six years assumes, among other things, a systematic increase in financial results.

“We are changing our name in June, but the transformation process of our businesses continues. Despite the demanding market situation, we do not give up on our priorities – energy transformation and sustainable development of individual businesses. The strategy assumes a systematic increase in financial results, and a strong balance sheet does not limit us in implementing ambitious plans, regardless of whether we are talking about organic growth or through acquisitions,” said Marcin Puziak, member of the Management Board of Ciech, quoted in the release.

Ciech announced that the group has defined strategic goals for the next 6 years, which, in addition to increasing financial results, include the implementation of ESG-related plans, including reducing CO2 emissions by 45%. until 2029. Plans to achieve climate neutrality in 2040 also remain valid.

Ciech will change its name to Qemetica.LinkedIn

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Qemetica's priorities

“We will continue to explore the European start-up market in search of solutions in the area of ​​clean technology or new businesses, already for Qemetica,” said Kamil Majczak, president of the management board of Ciech, quoted in the release.

As reported, one of Qemetika's priorities will also be an environmentally sustainable product portfolio, including low-emission soda and silicates or foams with a reduced share of petroleum-based raw materials in favor of greater use of raw materials from sustainable sources. Business Agro focuses on international expansion and hybrid products for farmers, and new investments are planned in packaging. The goal of the salt business is to achieve a leading position on the Central and Eastern European market.

As stated in the announcement, the name change from Ciech to Qemetica will take place gradually throughout May and June at the Group's individual production plants in Poland and abroad.

“The planned change is another, consistent step in the chemical transformation of the group after the investment holding Kulczyk Investments became a strategic investor 10 years ago, as well as a direct consequence of Kulczyk Investments taking full control over the Group and ending listing on the Warsaw Stock Exchange in March this year,” the statement said.

The sole shareholder of the Ciech Group is KI Chemistry based in Luxembourg, a subsidiary of Kulczyk Investments, which belongs to Sebastian Kulczyk. The main products of the Ciech Group are: soda ash, baking soda, salt, calcium chloride, plant protection products, glass products, silicates and other chemicals.

Main photo source: Ciech

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