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, ?xml:namespace>
An investment of zloty (Zl) 32m ($11.3m, €8.2m) had been earmarked for the expansion at the company's
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)
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections