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BorsodChem reached an agreement on new financial structure

February 18/2010

February 18 (plasteurope.com) -- It seems like Hungarian chemical giant BorsodChem (Kazincbarcika) finally has sailed out of the stormy waters. As reported in several Hungarian media outlets, an agreement in principle has been reached between the majority shareholders investee Permira (Frankfurt/Germany) and Vienna Capital Partners (VCP, Vienna/Austria) and minority shareholder Wanhua Polyurethane (Yantai, Shandong/China).

 

At the centre of the agreement stands the commitment on the part of Permira and VCP to inject about EUR 140m into BorsodChem in order to guarantee liquidity and to finance existing projects for capacity expansion. With Permira allegedly planning to quit its Hungarian investment only in three years time, Wanhua will remain the minority shareholder until then.

 

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BorsodChem reached an agreement on new financial structure

      MRC Reference

BorsodChem. The share in the Russian market in 2008:
 PVC - 2.5%;
 PVC-S - 2.6%.

 

Annual growth of sales in Russia over the 5 years:
 PVC - 201%.

 

Supply by processing technologies:
 profile extrusion;
 compounding.


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