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TVK subsidiary to be wound up

Petrochemical company TVK Rt announced plans to liquidate Chemopetrol Kft, a not fully consolidated subsidiary that trades in raw materials for the chemical industry in Hungary and across the border. TVK has a 66.66% stake in Chemopetrol, the other owner is Ukraine?s state asset management fund. The company will be wound up because its activities can be more efficiently operated by TVK itself.