BorsodChem boosts Czech stake to 100%
Thursday, November 17, 2005, 09:03
Chemicals company BorsodChem Rt said it signed on November 15 an agreement to buy a 2.4997% stake of its Czech subsidiary BorsodChem-MCHZ from AliaChem a.s., based in Prague, daily Világgazdaság reported. The purchase will boost BorsodChem's stake in Ostrava-based BorsodChem-MCHZ to 100%. BorsodChem said the transaction took place by calling an option it signed with AliaChem on April 27, 2000. BorsodChem Rt purchased its 97.5% stake from AliaChem in the spring of 2000. BorsodChem-MCHZ's main product is aniline, the raw material BorsodChem uses to make MDI. BorsodChem-MCHZ boosted its annual aniline capacity from 110,000 tons to 150,000 tons in H2 2004, and can now meet demand at BorsodChem's new 100,000-tonne-capacity MDI factory.