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his year Polwax celebrates its 5th anniversary; however, the company’s history of paraffin production goes back much further, as it has been active in the industry for 15 years. Polwax was established following the separation of Lotos Parafiny from the Capital Group Lotos SA, which is well-known for its crude oil production, refining and marketing of oil products. The group is Poland’s leader in lubricants. Lotos Parafiny itself was founded in 2004 as a result of the merger of two companies: RCParafiny from Czechowice and Parafiny from Jaslo. It became Poland’s leading producer and distributor of refined and deodorised paraffin, as well as a significant producer of candles and grave lights. Lotos SA sold its shares in the company in January 2012 and the Krokus Private Equity Fund acquired 64 per cent of Lotos Parafiny while the rest were taken over by the company’s managers and by passive investors; thus, Polwax was created. In 2014, the company made its debut on the Warsaw Stock Exchange. In March 2015, it purchased two laboratories: in Czechowice-Dziedzice and Jaslo. In October 2016, Krokus sold all its shares in Polwax, which resulted in a large dispersion of the shareholders. At the beginning of 2017, the company was awarded the prestigious title of ‘The one who transforms the Polish industry’, awarded by the Nowy Przemysl bimonthly business magazine.
Experts in paraffins Polwax is one of the world’s leading producers and distributors of refined and deodorised paraffin, waxes and speciality industrial paraffins. Its wide range includes products designed for the candle-making industry, products for special applications, products designed to meet food standards, anti-caking agents for fertilis114 Industry Europe
ers, pattern waxes, speciality products used in the manufacture of candles, products designed for the manufacture of grave-lights, anticorrosion agents, wood impregnation products and hot-melt adhesives. The company owns an analytical laboratory, which carries out research in the field of oil products, water, wastewater and the working environment. In total, its annual output amounts to about 60–65 thousand tonnes of products and it employs 280 people. “Thanks to our high-tech processes, high and stable quality of products, flexibility and cooperation with numerous research institutes, our products are appreciated by consumers and are used in various industries such as: fertilisers, investment casting, wood processing, production of varnishes and paints, rubber, paper and packaging, production of construction materials, manufacture of explosives, manufacture of candles and grave lights, and food,” says Dominik Tomczyk, Polwax CEO and president of the management board. The company’s total sales in 2016 amounted to PLN 294.6 million (more than €70 million). Around 75 to 80 per cent of Polwax’s products are sold on the domestic market, with the remainder sold mainly in the European Union (Germany, the Netherlands, Belgium, Italy, Hungary and UK) and in eastern Europe.
Solvent de-oiling technology The most important investment the company made this year was in the construction of a new slack wax solvent de-oiling plant (the socalled ‘FUTURE project’). Its total costs are estimated at PLN 160 million (more than €38 million). The installation is being built using ThyssenKrupp UHDE technology, and the German company will also supply eight key devices that have a fundamental impact on the quality of the products installed.
