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BorsodChem to require less money to complete necessary developments

Hungarian chemical company BorsodChem will need only €140 million in fresh financial resources to complete necessary investments, compared to the previously expected €180 million, company President-CEO Wolfgang Buchele told MTI on Thursday.

Buchele attributed the decrease in necessary funds to an improvement in BorsodChem's operational performance, noting that 60% of the new resources would be used for investment projects.

The BorsodChem president-CEO predicted that the company would generate a double-digit yr/yr increase in revenue during the first quarter of this year.

Buchele told MTI that he expects BorsodChem owner Permira and Chinese strategic investor Wanhua come to an agreement regarding the company's credit structure by early March. (MTI-Econews)