25 May 2011 16:00 [Source: ICIS news]
LONDON (ICIS)--Poland's PCC Rokita is to issue two-year bonds worth zlotych (Zl) 15m ($5.4m, €3.8m) to help fund initiatives which include the completion of a project to eliminate mercury from its chlorine production, the company said on Wednesday.
Substantial proceeds generated by the bond issue would be invested in work required to complete the switchover of the company's chlorine plant from mercury-based electrolysis to the more advanced and environmentally sound membrane-based electrolysis, it added.
Other proceeds would be put into a project to modernise and extend research and development facilities at PCC Rokita.
"Many customers of PCC Rokita, including especially small and medium-sized enterprises, do not possess the research facilities that would enable them to test the new products offered by the company," it said in a statement.
"This forces PCC Rokita to overtake a share of the implementation process and to provide technical support."
PCC Rokita uses chlorine in the production of propylene oxide (PO) for the manufacture of polyols.
The company, owned by Germany's PCC, has a nameplate capacity of approximately 25,000 tonnes/year for PO and a maximum capacity of around 70,000 tonnes/year for polyols.
Subscriptions for the bonds must be submitted by 10 June.
($1 = Zl 2.80, €1 = Zl 3.95)
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