BorsodChem
| Founded | 1949 |
|---|---|
| Headquarters | Kazincbarcika, Hungary |
Key people | Jiansheng Ding (CEO) |
| Revenue | 1,460,000,000 Euro  |
| 443,900,000 Euro (2018) | |
Number of employees | 3124 (2014) |
| Website | BorsodChem.com |
Wanhua-BorsodChem is a Hungarian chemical raw material manufacturing company headquartered in Kazincbarcika. it is the European member of the Wanhua Chemical Group. The company specialized for isocyanates (MDI, TDI), PVC and chlor-alkali (vinyl) businesses. 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
BorsodChem grew out of a complex of local chemical factories in Northern Hungary, and launched its first and Hungary's first PVC plant in 1963.
In 1991, as the legal successor to the 1949-founded Borsodi Vegyi Kombinát, the company BorsodChem was officially established.[1] BorsodChem has become one of the largest chemical companies in Hungary.
Its location in Berente, a village annexed to Kazincbarcika in 1954, caused several residents resenting the fact that they receive only a small part of the local taxes the factory pays. This led to the secession of Berente in 1999.
The company was purchased by Permira in 2007. From 2011 it belongs to Wanhua Industrial Group. In 2019, a successor of Wanhua Industrial Group, injected the shares of BorsodChem into the listed associate company Wanhua Chemical Group.
2000 M&A incident
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.[2][3]
References
- ^ Official, Company Data
- ^ Corporate Governance Risk Survey in Hungary[permanent dead link]. Merit Research Working ePapers, No 5, June 2002
- ^ Barnett, Neil (8 January 2006). "From Poland to Hungary, Gazprom takes stealth route to domination". London: The Independent. Retrieved 2009-10-17.