BorsodChem to buy Rafineria Blachownia
Wednesday, October 5, 2005, 08:04
Chemicals company BorsodChem Rt will buy Polish peer Rafineria Blachownia from Ciech, Napi Gazdaság reported yesterday relying on Dow Jones Newswire information. Klinkosz did not disclose the price of the transaction, but said an announcement of the sale would be made Thursday. Ciech, in which the Polish state holds a 37% stake after an initial public offering in February, is the sole owner of Blachownia. Blachownia is the only Polish producer of high-purity ethylbenzene, the raw material for the production of styrene, polystyrene and synthetic rubber. The company, which employs 200 people, has annual sales of about $75 mln.