Hungary's TVK signs 10-year ethylene deal with China's Yantai Wanhua

02 May 2012 13:32  [Source: ICIS news]

LONDON (ICIS)--TVK has signed a deal to supply China's Yantai Wanhua Polyurethanes with 120,000 tonnes of ethylene annually for the next 10 years, the Hungarian petrochemical producer said on Wednesday.

The ethylene will be delivered to Hungarian isocyanates and polyvinyl chloride maker BorsodChem, which since February last year has been owned by the parent company of Yantai Wanhua Polyurethanes, Wanhua Industrial Group, it added.

TVK, owned by Hungarian oil, gas and petrochemical major MOL, said that the deal extends the longstanding supply relationship which it has had directly with BorsodChem over many years.

Financial details were not disclosed.

By: Will Conroy
+44 20 8652 3214

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