CIECH Group will change its name to Qemetica in June

Date:04-29-2024

In June, the name of the CIECH Group companies will change. The abbreviation CIECH will be replaced by the new name: Qemetica. The planned change is a further consistent step in the Group's chemical transformation after the investment holding Kulczyk Investments became a strategic investor 10 years ago, as well as a direct consequence of Kulczyk Investments taking full control of the Group and completing its listing on the Warsaw Stock Exchange in March this year. At the same time, CIECH has set strategic goals for the next 6 years which, in addition to growth in financial performance, include the implementation of ambitious ESG-related plans, including a 45 percent reduction in CO₂ emissions by 2029. Each of the group's seven businesses - Soda, Salt, Agro, Foams, Silicates, Packaging and Cargo - has specific business goals for 6 years.

Change of the name is a continuation of the dynamic transformation over recent years. During this period, the Group's structure was reorganised and production and business processes were improved. The largest-ever investment plan was also completed (including building a salt plant in Germany for around PLN 700 million), and ambitious sustainability plans were implemented, particularly a long-term energy transformation project for the most energy-intensive business: soda production.

- We are closing the chapter of the Chemicals Import Export Headquarters, and opening a new chapter under the name of Qemetica - a chemical group driving many industries on all continents. Therefore, the change of name is also accompanied by the adoption of the key goals of the business strategy for the next 6 years. We have an ambitious plan to redefine the chemical industry in response to the challenges posed by everyday life: first and foremost, to protect the climate and natural resources while increasing competitiveness and the element of innovation in our Group's products and services. The target for 2026 is 10 patents to support our competitiveness. We will continue to explore the European start-up market for solutions in the area of clean technology or new business, already for Qemetica - says Kamil Majczak, President of the Management Board of CIECH S.A.

CIECH Group, and since June Qemetica, wants to reduce carbon emissions by 45 percent by 2029. Plans to achieve climate neutrality in 2040 remain valid. The new business strategy is integrated with the ESG goals. In addition to the ambitious goals for the Group's emissions performance, one of Qemetica’s priorities will be an environmentally sustainable product portfolio, including low-carbon soda and silicates, or foams with reduced petroleum-based raw materials in favour of greater use of sustainably sourced raw materials. The Agro business, on the other hand, is betting on international expansion and hybrid products for farmers, while new investments are planned in Packaging. The aim of the salt business, in turn, is to achieve a leading position in the Central and Eastern European market.

- We are changing our name in June, but the process of transforming our businesses is ongoing. Despite the challenging market situation, we are not abandoning our priorities - energy transformation and the balanced development of individual businesses. Our strategy is to steadily increase our financial performance, and our strong balance sheet does not constrain us from pursuing our ambitious plans, whether we are talking about organic growth or through acquisitions - says Marcin Puziak, member of the CIECH Management Board.

Change of the name from CIECH to Qemetica will take place gradually over the course of May and June at the Group's individual production sites in Poland and abroad. As of today, it is visible, for example, on the web under a dedicated page informing about the rebranding www.qemetica.com and in a dedicated Youtube spot at: www.youtube.com/watch. Change of the name does not involve a change of KRS or NIP numbers. A full list of the new company names, effective from June, can be found below.

About the CIECH Group

The CIECH Group (Qemetica since June 2024) is an international chemical group with a strong position on global markets. It is the second largest producer of soda ash and baking soda in the European Union, the largest producer of evaporated salt in Poland, the largest supplier of sodium silicate in Europe, the largest Polish producer of plant protection products and the leading producer of polyurethane foams in Poland. It has factories in Poland, Germany and Romania and employs more than 3,000 people across the EU.

The owner of 100 percent of CIECH shares is KI Chemistry.

As one of the largest Polish exporters, the CIECH Group ships its goods to almost all continents. They are used to make items that are essential in the daily lives of millions of people around the world, which is why the CIECH Group is an important element in many branches of the economy - construction, automotive, agriculture, chemical, food or pharmaceutical industries.

CIECH combines a modern approach to business with attention to sustainability. Since 2020, it has been a member of the United Nations Global Compact - the world's largest initiative bringing together socially, environmentally and economically responsible companies.

List of selected companies after the change of name, which will be effective from June 2024.