(Edited from: 'Strategy' and annual report)
BorsodChem will follow its strategy named “Strategy 2012”. Implementation of the long-term strategy is believed will elevate the company on to a leading European level with a strong focus on isocyanates in its product portfolio.
Strategy 2012
Exploit the opportunity to become European number one in toluene di-isocyanate (TDI) through building a 160,000 tonnes/year plant by mid-2009 at its site in Kazincbarcika, Hungary.
Continue profitable growth in methyl di-p-phenylene isocyanate (MDI) by building a 200,000 tonnes/year MDI unit at its site in Kazincbarcika, Hungary. It will double capacity by 2010/11.
Differentiate MDI and TDI for added value.
Maintain polyvinyl chloride (PVC) for synergies and explore options in pending European industry consolidation.
“Increasing global demand for TDI and uneven geographical spread of capacities will allow BorsodChem to exploit an opportunity to become the number one European producer of TDI”, says chief executive officer, Kay Gugler.
In addition to volume expansion, BorsodChem will concentrate on differentiating a considerable part of its downstream MDI and TDI in order to add extra value and provide for sufficient sustainable competitive advantage. This move forward from commodity products towards further processed specialty products, polyurethane systems and solutions will enable the company to be a “price setter rather than price taker”.
In PVC, BorsodChem will maintain its PVC business for synergies within the integrated product portfolio while maximising cash generation. The capacity development programme, which will require capital expenditure of around Euro500m, is believed will elevate BorsodChem into Europe’s second largest isocyanates player by 2012.
To foster the related technological innovation and R&D, BorsodChem will invest heavily in its people, simultaneously with further capacity expansion projects and an aim to focus on innovation.
Please see Focus: BorsodChem widens door into Europe for China's Yantai Wanhua
ICIS Chemical Business magazine has unveiled the ICIS Top 100 Chemical Companies, with rankings based on 2008 sales.
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See the article and analysis of the ICIS Top 100 on ICIS news.
Financial highlights: BorsodChem, year ended 31 December
| |
2008 |
2007 |
| Sales (CZK m) |
45,943 |
75,626 |
| Number of Employees |
3,910 |
4,370 |
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BorsodChem
Company Structure
BorsodChem is a producer and processor of plastic raw materials and isocyanates. In December 2006, Permira completed a public purchase offer for all shares of BorsodChem. Permira, together with its partner Vienna Capital Partners (VCP), acquired a joint influence of 92.9% of BorsodChem.
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