Unipetrol Group

The foundation of the Unipetrol shareholding company in 1994 marked the completion of one of the steps in the project of gradual privatisation of the Czech petrochemical industry. The plan was for Unipetrol to join selected Czech petrochemical companies into a grouping that would be able to compete with strong supranational concerns. The majority shareholder of the company, holding 63 per cent of the shares, was the Czech State represented by the National Property Fund. The remaining shares were owned by investment funds and small shareholders. According to the original project, the share of the State in the company was to be eventually privatised. That is why in 2004 the government performed the selection of a strategic partner and new majority owner. The agreement between the National Property Fund and PKN Orlen on the sale of the 63 per cent share in UNIPETROL a.s. was signed on 4 June 2004.

The Unipetrol group now consists of mainly the shareholding companies Chemopetrol, Benzina, Paramo, Česká rafinérská, Unipetrol Trade, and Unipetrol Rafinérie.

The annual turnover of companies associated in the Unipetrol group exceeds CZK 65 billion, which makes it one of the largest corporations in the Czech Republic and also one of the most important exporters. The merger with a new, economically strong partner gives the Unipetrol group a chance of succeeding in the strong international competition and becoming a significant player in the chemical industry field in the European Union.