Zespół Elektrowni Pątnów-Adamów-Konin
Zespół Elektrowni Pątnów - Adamów - Konin SA ( ZE PAK SA ) is Poland's second largest lignite converter, the first being Bełchatów - Opole - Turów Górnictwo i Energetyka (BOT GiE SA). PAK has a market share of 12% in power generation . The group includes the following subsidiaries:
- Elektrownia Pątnów II - power plant
- PAK Serwis sp. z oo - repair company
- EL PAK sp. z oo - service provider
- AS PAK sp. z oo - property manager
- TRANS PAK sp. z oo - transport company
- PAK ODSIARCZANIE Sp. Z oo
- PAK Centrum Usług Informatycznych Sp. Z oo - IT service provider
The entrepreneur Zygmunt Solorz-Żak , who also owns the TV station Polsat , controls the operation of the power plant group.
Shareholders
- Treasury - 50%
- Elektrim and Zygmunt Solorz-Żak controlled companies - 46%
- Workforce - 4%
privatization
In 1994 the state-owned company ZE PAK was converted into an AG with the Treasury as the sole owner. In 1999, the Elektrim conglomerate became a strategic investor, committed to investing EUR 430 million in the new Pątnów II power station. In spring 2008, the competitor Enea SA submitted an offer to take over the shares held by Elektrim and other Zygmunt-Solorz Zak companies in PAK. Before that, Enea (according to the plan in July 2008) must be listed on the Warsaw Stock Exchange. If Enea were to get the PAK shares from Elektrim, the Treasury Department would also cede its PAK shares to Enea. In 2007, Elektrim demanded PLN 2 billion from the copper and silver company KGHM for its PAK shares, which was too much for KGHM. Investor Enea would like to work with PAK to take over the two lignite opencast mines Adamów and Konin, which are wholly owned by the Ministry of the Treasury and exclusively supply PAK.