(37,96 PLN, 0,48%) is mulling further step in building the PX/PTA value chain which could be a part of a new strategy, according to CEO Mr. Krawiec said. He added that the strategy could be adopted by end-year, but only if conditions on the market stabilize. The investment could be done in cooperation with a large partner, Krawiec suggested, but added that it was to early to talk about any particulars.
Further extension of PX/PTA value chain could be very welcomed from our side. It should convert gasoline, which is in oversupply in the European market to the special petchem product, which has more stable demand. Given the available room, we would also welcome further restructuring at Mazeikiu refinery if the political situation allows. Given no extended details on the strategy update we consider the news as neutral at this point.