Tag Archives | BorsodChem

ICIS Top 10 CEE/Russia chemical company list: help!

I am compiling the 2010 ICIS Top 10 central and eastern Europe/Russia chemical companies list and I need your help! Please visit the spreadsheet I’ve set up and let me know if I am missing any companies. This list is based on the 2009 list.  These are the companies included so far: SIBUR, PKN ORLEN, […]

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hungary flag.jpg

Hungary to rely on exports for chemicals recovery

BorsodChem, TVK, MOL and others are in for a tough 2010 as a new report suggests there will be no recovery before 2011. Hungary’s chemical industry has suffered from plummeting domestic demand as well as falling demand from export countries, particularly Germany.According to www.companiesandmarkets.com, 75% of the country’s polymer production is exported. While Germany has […]

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Oil refinery

Central and Eastern Europe chemicals industry call for ideas

I’m currently planning a special issue of ICIS Chemical Business magazine focussed on the central and eastern Europe and Russian chemicals industry.  Please send me any good ideas for articles to explore this fascinating region. I’m thinking about: CEO interviews Poland privatisation update BorsodChem Spolchemie Russian chemical projects update and much more…

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Hungary’s troubled PVC maker BorsodChem may be in deeper trouble, according to portfolio.hu. It quotes a local newspaper saying the company is not even close to negotiating a E100m loan it needs to help it restructure debt and continue operating. BorsodChem has a huge amount of potential and had been modernising aggressively to transform itself […]

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overlooking the Danube, Budapest

Wanhua gives up BorsodChem takeover battle

Hungary’s BorsodChem has reached an agreement with China’s Wanhua, allowing it a future as a minority shareholder but not to control the company. According to portfolio.hu, it seems Wanhua has given up its intention to squeeze out owner Permira and become a majority owner of the Hungarian company.“After three days of intensive negotiations, the management […]

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BorsodChem lenders support independence

Hungary’s PVC producer, BorsodChem, insists that its lenders want private equity owners Permira and Vienna Capital Partners to keep a majority stake in the company.China’s Wanhua Industrial Group has been building a stake in the group by purchasing large amounts of mezzanine or junior debt. A familiar battle for BorsodChem may be brewing (see earlier […]

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BorsodChem not for sale: Permira

Permira, the owners of Hungary’s PVC manufacturer BorsodChem, say they will hold on to the group as it should recover strongly when the downturn tails off.According to Reuters, Ulrich Porwollik, a head of communications at Permira in Germany, confirmed a report in Vilaggazdasag.‘Permira has long term goals with BorsodChem,’ Christian Neuss, partner at Permira was […]

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China’s Yantai Wanhua pursues BorsodChem

View BorsodChem in Hungary in a larger mapBorsodChem’s Kazincbarcika PVC plantChina’s largest Methylene Diphenyl DiIsocyanate manufacturer, Yantai Wanhua, is in talks with Permira, the private equity group which owns Hungary’s main PVC manufacturer, BorsodChem.According to news service plasteurope.com, it has bought up the company’s mezzanine debt to the tune of E200m.An earlier report in portfolio.hu […]

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Asian takeover of BorsodChem?

An investor from Asia is reportedly eyeing Hungary’s pvc maker, BorsodChem. According to realdeal.hu, an Asian investor has been buying up tranches of the East European chemical company’s debt.This is worrying for the comapny’s CEO, Wolfgang Buchele, who is worried that the group’s technology may be exported and his plants shut down. This all has […]

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