UNIMOT GAZ S.A. dynamically entered the natural gas market with the end of the year. The Company is going to manufacture liquefied natural gas and build a retail network. The Company signed a letter of intent regarding the matter.
The Board of UNIMOT GAZ S.A. announced, that on 19 December 2013 they have signed a letter of intent with new business Partner to set up a special purpose entity. Accordingly to the document, activity of the special purpose entity will consist in manufacturing liquefied petroleum gas and developing retail network across chosen areas, lacking gas-supply lines. The dominant entity in the company will be UNIMOT GAZ S.A.
„ This transaction is a mile step towards developing expansion on the gas manufacturing market and currently is the Company’s priority ” , said Bogusław Satława, the Chairman of Board of UNIMOT GAZ S.A.
„ Our business partner is a company of long-standing experience in the area of natural gas distribution and production of liquefied natural gas (LNG). That will guarantee the special purpose entity will not only ensure indispensable infrastructure to liquefy natural gas (production of LNG), but also developed retail network.
Pursuant to the letter of intent, UNIMOT GAZ S.A. will provide the special purpose entity with capital support, constant access to raw materials and administrative and logistic support.
Thanks to these steps UNIMOT GAZ S.A. will be present in the whole supply chain of gas products – from the manufacturer to the end user.
From our perspective that transaction will contribute to strengthening the market position of UNIMOT GAZ S.A. and increasing the Company’s value”– added Bogusław Satława.
