PRAGUE (Reuters) -- China's Wanhua Industrial Group has agreed to buy 38% stake in Hungarian PVC maker BorsodChem for 140 million euros ($171.3 million).
BorsodChem will use the funding to complete the construction of its new TDI 2 (Toulene di-isocyanate) plant and the new Nitric Acid plant as well as for general corporate purposes.
MRCMRC 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.