BorsodChem may bid for Zachem
Monday, July 18, 2005, 00:00
Chemicals maker BorsodChem Rt will decide by next Tuesday whether it will submit a bid for Polish chemical company Zachem, Portfolio.hu reported citing MTI information. BorsodChem?s experts are currently carrying out due diligence. Nafta Polska, the Polish state holding company charged with privatizing state-owned chemical industry companies, is expecting bids from potential buyers that have bought the tender documentation by August 9. The Polish government intends to complete the privatization of Zachem by the end of the year.
Zachem produces 60,000 tons of TDI annually, supplying 10%-12% of the Polish market. The region?s largest TDI manufacturer is BorsodChem.