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Paramo celebrating 125 years since foundation of the company

28-05-2014  

Pardubice, 19 May 2014 – Paramo is this year celebrating an important anniversary of its foundation. The history of the refinery in Pardubice started back in 1889, when David Fanto established a plant for distillation and subsequent refining of petroleum from crude oil in Pardubice. Today, after 125 years of operation of the company, Paramo ranks amongst the largest domestic producers of refinery products, such as lubricants and process oils or building construction and road asphalts.

The refinery in Pardubice is an integral part of the region’s history, the roots of which date back to 1889. Over the past 125 years, the world around us has changed beyond recognition. For this reason, Paramo also had to undergo fundamental changes, according to current fast changing customer requirements. Necessity of production portfolio changes and cost effectiveness are crucial to keep the company's leader position for next years and neutralise macroenvironments challenge,” says Krzysztof Pietrzyk, Managing Director of Paramo. “At this moment, Paramo operates in terms of the Unipetrol Group as a key producer and distributor of oils in the Czech Republic and in Slovakia, which have already been sold for 87 years now under the MOGUL brand. Other strategic activities include production of asphalts and provision of fuel terminal services,” adds Krzysztof Pietrzyk.

In recent years, Paramo has had to face difficult macroeconomic conditions. For this reason, the company is putting a lot of effort into improvement of its operations, in particular with regards to cost efficiency and increasing sales in the field of oils and asphalt. As a result of the measures which have been adopted, Paramo last year achieved better financial results compared to previous years. In addition to this, the company is currently in the process of completing its medium-term strategy until 2020. In terms of the UNIPETROL Group, Paramo will continue to operate as a key producer and distributor of oils on the Czech and Slovak market. 

The history of Paramo
Fantovka.JPG

In 1889, David Fanto established a plant for distillation and subsequent refining of petroleum from crude oil in Pardubice. A year later, a production plant was established in Kolín. The proximity of the River Labe and connection to the railway were, just like in the case of the refinery in Pardubice, key attributes for choice of location for the refinery. In 1907, David Fanto’s enterprise was transformed into a joint stock company with capital of 12 million crowns, to which plants in Hungary, branches in Paris, oil fields in the Galician city of Boryslav, an extensive fleet of tankers, oil tankers and transfer stations pertained.

With the growth of motoring, a new and promising field of business opened for Fanto’s plants – operation of petrol stations, establishment of which started at the end of the 20s and one of the first was built right in Pardubice in front of the Veselka pub. Production of MOGUL oil for the Bratři Zikmundové network of petrol stations commenced in Kolín in 1927.

Bombing at the end of World War Two made its mark on both refineries and only a quarter of the plant in Pardubice remained. Building work on Pardubická rafinérie minerálních olejů, národní podnik from the ruins and rubble already began in 1945. The basic element of the company was processing by means of atmospheric distillation. This was extended in later years to include other technology.

In 1960, under the trading name Paramo, Národní podnik Pardubická rafinérie minerálních olejů became a business with exclusive production of special asphalts. Significant increase in production by the company occurred after 1 September 1973, when new atmospheric distillation equipment for crude oil was set into operation. Production of fuels increased significantly at that time, i.e. production of petrol, diesel and above all heating oils.

Transformation occurred at the start of 1994 from a state-owned enterprise and the joint stock company Paramo was created. It has been a member of the Unipetrol Group since 2000. The year 2003 was another important milestone for the refinery in Pardubice, when Paramo strengthened its position on the domestic and foreign markets through completion of a merger with Koramo Kolín. 

Paramo currently employs 460 people in Pardubice and in Kolín and focuses in particular on production of lubricating oils and asphalt products for use as insulation in construction.

Paramo is constantly modernising its portfolio of products. Some examples of this are the premium range of oils MOGUL Professional or the innovative range of special industrial lubricants – metalworking fluids, cutting and preservative oils. Another example is the MOGUL MOTO range, specially developed for the two-stroke and four-stroke engines of modern motorcycles, the quality of which has also been proven by the Czech Enduro Team and for which Paramo won a prestigious PETROLawards prize in the product category. For 2014, the company can also boast a prize from the Czech Superbrands Awards for the MOGUL brand.

All of this provides a very good foundation for further development of this traditional Czech company, which has accompanied drivers on their travels since 1889.  


Contact details:
Mikuláš Duda
Press spokesman
PARAMO, a.s.
Mobile: 736 502 520
E-mail: mikulas.duda@unipetrol.cz

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