Today
Today, Orlen is the largest fuel retailer in Poland with over 2000 locations. The company runs the most advanced and the second largest complex for terephthalic acid production in Europe. It also has significant investment abroad including the buy out of Mažeikių Nafta and a majority stake in Unipetrol, a Czech refiner. In 2003 PKN Orlen had the chance to acquire 500 filling stations in Northern Germany from BP under premise of an anti-competition rule when BP took over Aral. As of 2007 PKN Orlen has 581 filling stations in Germany (484 under the Star brand, 58 under the Orlen brand and 29 under a supermarket brand).
PKN Orlen was involved in merger talks with MOL Group, a Hungarian oil company in 2005. If merged, the two firms would have created a regional giant, and controlled much of Central Europe's oil industry. However, the planned merger failed due to high politicization. Following the dropped merger plans, PKN Orlen bought a majority stake in Czech Unipetrol. During May 2006, the company announced its largest investment ever when it took over a majority share of Lithuania's Mažeikių Nafta, the largest company in the Baltic States, from Yukos. With the completion of the takeover, PKN Orlen became Central Europe's largest company.
PKN Orlen, under a joint venture with the Netherlands firm Basell, also owns Poland's largest plastics company.
In 2007, it was ranked 432 in the Fortune Global 500 and 679 in the Forbes Global 2000 list of companies. Orlen employs over 24,000 people in 4 countries.
Read more about this topic: PKN Orlen
Famous quotes containing the word today:
“Experiment is necessary in establishing an academy, but certain principles must apply to this business of art as to any other business which affects the artis tic sense of the community. Great art speaks a language which every intelligent person can understand. The people who call themselves modernists today speak a different language.”
—Robert Menzies (1894–1978)
“In communist society, where nobody has one exclusive sphere of activity but each can become accomplished in any branch he wishes, society regulates the general production and thus makes it possible for me to do one thing today and another tomorrow, to hunt in the morning, fish in the afternoon, rear cattle in the evening, criticize after dinner, just as I have a mind, without ever becoming hunter, fisherman, shepherd or critic.”
—Karl Marx (1818–1883)
“If today there is a proper American “sphere of influence” it is this fragile sphere called earth upon which all men live and share a common fate—a sphere where our influence must be for peace and justice.”
—Hubert H. Humphrey (1911–1978)