Tag Archives | pvc

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PVC industry consolidation in central and eastern Europe?

Within the past few days the CEO of Hungary’s BorsodChem has restated his intention to sell or joint-venture out the company’s 365,000 tonne/year PVC operation. Poland’s PKN Orlen is also seeking a buyer for subsidiary Anwil, which has a 435,000 tonne/year PVC plant as well as a nitrogen fertilizer business. I sniff an opportunity here for […]

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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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