Poland's Zachem to expand TDI capacity by 20% to 90kt/year

02 February 2011 16:42  [Source: ICIS news]

LONDON (ICIS)--Zachem will expand its toluene di-isocyanate (TDI) capacity by 15,000 tonnes/year to 90,000 tonnes/year, Poland's sole TDI producer said on Wednesday.

An investment of zloty (Zl) 32m ($11.3m, €8.2m) had been earmarked for the expansion at the company's Bydgoszcz site in northern Poland, to be carried out from 2011 to 2013, it added.

It would follow on from a previous 15,000 tonnes/year expansion completed in 2009, Zachem said.

The cost of this latest project would be met from capital raised by a secondary public offering (SPO) currently being made by Zachem's parent company, Poland's largest chemical group Ciech, it added.

Ciech hopes the offering, due to conclude on 10 March this year, will overall bring in Zl 442m.

During the announcement of a debt refinancing deal in January, Ciech confirmed that it intended to build up Zachem as part of its strategy of growing its soda ash and organic chemical divisions while disposing of its other two divisions, agrochemicals and silicates and glass.

($1 = Zl 2.82, €1 = Zl 3.90)

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By: Will Conroy
+44 20 8652 3214

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