Divestments for optimized investment portfolio management
PCC sells German power and gas provider PCC Energie GmbH to Nexus Energía S.A.
Duisburg/Barcelona, December 2010
On December 22, 2010, Duisburg-based PCC SE and Nexus Energía S.A. of Barcelona signed a contract on the sale of PCC Energie GmbH.
This transaction represents the final step in PCC SE's realignment of its Energy Division, entailing a move away from the original energy trading business and a new focus going forward on the development and operation of group-owned power plants, primarily in East and Southeast Europe. PCC Energy GmbH has been active as a Germany-wide supplier of electricity and gas to industrial and mid-sized companies since 1999. In 2010, this PCC company will generate sales of approximately €125 million. Its client base comprises about 6,100 industrial companies, mid-sized businesses, and retail chains.
For Spain's Nexus Energía S.A. power utility, the acquisition of PCC Energie GmbH constitutes a first step towards a planned internationalization. It provides a vehicle for Nexus to apply the experience it has gained as an interregional gas and power supplier on its home market to other European markets as well.
The two parties have agreed not to disclose the purchase price.
Duisburg/Warsaw/Jaworzno, July 2009
Waldemar Preussner, founder and sole shareholder of PCC, is satisfied with the sale: “Having created Poland’s largest private rail carrier in just eight years, DB now is the ideal partner to continue on this growth track paved by PCC. Teaming up with DB – Europe’s largest rail freight carrier – opens new, interesting development options for PCC Logistics’ transport companies and their staff.”
Dr. Karl-Friedrich Rausch, Member of the Management Board of DB Mobility Logistics AG, responsible for Transportation and Logistics, also commented on the successful acquisition: “PCC Logistics has now become an integral part of our future-oriented logistics activities on Europe’s rails. The company is well-positioned and is tackling the crisis well. Working together, we will now further develop offers and services for our customers in Poland and on the international corridors, while expanding our position as the leading European rail freight carrier.”
As a result of the sale of the largest part of its logistics business – PCC Intermodal and PCC Autochem remain under the control of PCC SE – the Group will be able to generate a record profit and a substantial inflow of liquidity. PCC SE thus marks the largest active portfolio management success in its history. Inevitably, the character of the PCC Group will change due to this transaction. The Chemicals division now constitutes the core business, supplemented by the “energy / construction of power plants” and “intermodal transport” business segments, which are still in their expansion and development phases.
The largest part of funds from the logistics transaction will be used for investments in the chemical and energy businesses. Chemical production at PCC Rokita will undergo further modernisation and expansion, and possibly additional expansion through acquisitions. In the energy business, PCC's recently launched actions to develop, construct, and operate power generation assets primarily on the basis of renewable resources will be continued. Special attention will be paid to the expansion of PCC Intermodal in Poland, which in line with earlier announcements will be listed on the stock exchange in 2009, if the conditions on the capital markets prove acceptable.
Brzeg Dolny/Tel Aviv, December 2008
Polish PCC Rokita SA, the largest chemical producer in Lower Silesia, has sold 90 per cent of the shares of its subsidiary Rokita Agro S.A.
The contract with Israel's Makhteshim Agan Industries (MAIN), the world's largest producer of generic agrochemicals, was signed on December 11. The deal is expected to close at the beginning of 2009. Rokita Agro generates annual sales of approximately PLN 137 m (EUR 36 m) from the production of pesticides, particularly the herbicide 2,4D.