Tag Archives | hungary

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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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INEOS – MOL share swap offer ends in failure

Hungary’s oil and chemical major, MOL, has been the subject of takeover rumours and bids for many years. Not so long ago there were whispers that the Russians were intent on building a stake in MOL as they sought a foothold further West. A merger with Poland’s PKN Orlen has been on the cards for at least a […]

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Humet bids for Hungary chemicals company

Hungary’s pharma company Humet is leading a consortium to make a buyout offer for a multinational chemicals company, according to the Budapest Business Journal.The report says a consortium led by dietary supplement maker Humet has made a preliminary buyout offer for 100% of a Hungary-based multinational chemicals company with annual turnover of several billion forints.Humet […]

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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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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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Hungary chemical production plummets by 30% in January

A new report out by www.companiesandmarkets.com shows just how badly Hungary’s chemical sector has been hit by the slump in demand domestically and in export markets. Exports of chemicals contracted by 35%. Domestic sales of industrial products were 5% lower in January 2009. Hungarian industrial production contracted by a staggering 23.3% y-o-y in December.The report […]

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Hungary chemicals production falters

Huingary’s economy and chemicals industry continue to suffer:According to a new report by the Central Statistics Office, quoted in financial site www.portfolio.hu, “significant price cuts occurred in the manufacture of chemicals and chemical products (2.2%) mainly due to the fact that the price of fertilisers and nitrogen compounds were slashed by 17%.”“Domestic industrial producer prices […]

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Croatia to cooperate with Vietnam on chemicals?

Vietnam is keen to cooperate with Croatia in the chemicals sector. This is according to vovnews.com, a site devoted to Vietnamese news. It’s hard to imagine how exactly this might work?According to a story out today, the Vietnamese Embassy in Hungary has worked with the Croatian Chamber of Trade and Economy to hold a seminar […]

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Krahn Chemie signs distribution deal

Germany, Hamburg-based distributor Krahn Chemie is to distribute rubber chemical products for NOCIL, which was spun out of Monsanto, according to Chemie.de Krahn Chemie operates across Europe, including Hungary, Poland and the former Yugoslavia region.“In the past years, NOCIL has proven to be a very reliable supplier to the rubber industry”, says Helmut Waibel – […]

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Cargill to expand agrochems in Hungary

Hidden at the bottom of the story “Agrograin migrates to Cargill brand in Hungary” from the site All About Feed is a line about its chemicals strategy: “Meanwhile, Cargill is further expanding its activities in Hungary to include supplying more farmers with seeds, chemicals and fertilisers.”

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