Chemopetrol and Unitpetrol Rafinerie will be wound up without liquidation and all of their assets, liabilities and rights, including labor law obligations, will be transferred to their successor, Unipetrol Refineries, Petrochemicals, Agrochemicals (Unipetrol RPA).
Unitpetrol Group said that the move is the logical continuation of the implementation of a new management model, which it has been gradually deploying since the beginning of the year. The main advantages of the merger include simplified flows of intermediate products within a single company and better use of existing synergies.
The group said that another positive effect will be more efficient internal sourcing, the sale of its own products within the group and better control over the entire production and sales chain, from crude oil purchase to customer care.
The merger will result in a single compact unit with a simplified organizational, personnel, administrative and logical structure of activities, said Petr SosIk, one of Unipetrol RPA’s executives. This change will reduce administrative expenses and increase the prosperity of the entire Unipetrol group.
The group hopes that the reorganization will make for more effective day-to-day management of the company, quicker decision-making processes, and direct supervision over the company’s business and commercial activities.
