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Hungarian chemicals company BorsodChem's revenue rose to about €1 billion in 2008, at current exchange rates, and EBITDA was over €110 million, business daily Világgazdaság reported.
BorsodChem saw a steep decline in orders starting in November, as demand in the construction and automotive industries plunged, CEO Wolfgang Buchele told the paper. The company also faces the cost of buying carbon credits and paying its former employees some €2.5 million in pensions.
BorsodChem could decide to ask its lenders to reschedule some €900 million in debts depending on the economic situation, Buchele said. (MTI – Econews)