BorsodChem

Wanhua-BorsodChem is a Hungarian chemical raw material manufacturing company headquartered in Kazincbarcika, Hungary. It is the European member of the partially state-owned Chinese Wanhua Chemical Group.[1] The company specializes in isocyanates (MDI, TDI), PVC and chlor-alkali (vinyl) businesses.[2] The main production site is located in Kazincbarcika, Hungary but the production is also supported by other European production capacities located in Ostrava, the Czech Republic and Kędzierzyn-Koźle, Poland. Several branch offices are available in Hungary, Belgium, the Czech Republic, Croatia, Italy and Poland. Since 2008 a new R&D and technical support center was established in Gödöllő.

History

Beginnings

The establishment of the Borsodi Vegyi Kombinát (BVK) the predecessor of Wanhua-BorsodChem, was decided at the end of 1949, based on the Borsod coal, the water of the

BorsodChem

Stock market membership in Budapest and London

On 1 August 1991, as the legal successor to the 1949-founded Borsodi Vegyi Kombinát, the company BorsodChem was officially established.[3][4] BorsodChem has become one of the largest chemical companies in Hungary. In 1996, it became the first company to register its shares on the Budapest Stock Exchange as well as the London Stock Exchange. In 2000, he bought 28.5 percent of the shares of Tiszai Vegyi Kombinát, which were later resold to MOL.

M&A incident in 2000

Irish-registered offshore company Milford Holdings purchased a 24.7% stake in 2000. It sold the stake to CIB, the Hungarian subsidiary of Banca Commerciale Italiana. Vienna Capital Partners was involved in the affair. Hungarian prime minister called for an investigation into the deal of M&A (Mergers and Acquisitions).[5][6]

Wanhua Industrial Group and Wanhua Chemical Group

In 2006, the majority ownership of the company was acquired by Permira Venture Capital Fund, which delisted the shares from the stock exchange in the following year. Since 2011, BorsodChem Zrt. has been managed by the partially state-owned Chinese Wanhua Industrial Group and its subsidiary Wanhua Chemical Group,[1] the fastest growing group of companies producing and selling polyurethane raw materials in the world. Today, Wanhua – BorsodChem is Hungary's leading chemical company and one of Europe's leading producers of MDI, TDI and PVC raw materials and a leading manufacturer of specialty chemical products.[3] In 2019, a successor of Wanhua Industrial Group, injected the shares of BorsodChem into the listed associate company Wanhua Chemical Group.[7]

According to the Dutch OSINT

Developments

At the end of 2018, Wanhua – BorsodChem decided to invest in brownfields and had begun to build an aniline factory. Of the cost of 142.2 million euros, 45 million is covered by the Hungarian state subsidy. The handover of the factory is expected in 2021. With the start-up of the new plant, the company will create about fifty new jobs.[9]

In January 2019, BorsodChem made a contract with Swiss Casale SA for the supply of a new nitric acid plant to be added to the Hungarian, Kazincbarcika factory, which was identical to the unit already located on the site and had been operating since 2012.[10] The new plant was inaugurated in July 2023, which included a total of €400 million in investment for new production units in the Berente Village area, as well as the 90,000 tonnes a year of concentrated nitric acid plant.[11][12]

A supply contract for nitrogen, oxygen and compressed air was signed in January 2021 with Linde, who was expected to complete the construction of the largest air separation plant in Hungary by the end of that same year.

foundation	1949
location	Kazincbarcika, Hungary
key people	Jiansheng Ding (CEO)
num employees	3124 (2014)
homepage	BorsodChem.com

History

Beginnings

PVC era

BorsodChem

Stock market membership in Budapest and London

M&A incident in 2000

Wanhua Industrial Group and Wanhua Chemical Group

Developments

Administrative changes

External links

References