BorsodChem Rt takes control of MCHZ unit

By David Reed, UT EditorKazincbarcika, Hungary-BorsodChem Rt has taken full control of its BorsodChem-MCHZ Sro, Ostrava, Hungary-based subsidiary, following a share-purchase agreement with AliaChem AS of Prague to purchase its 2.4997-percent stake in the firm. The MCHZ unit, pictured, makes several isocyanate precursors including nitrobenzene, aniline, and formaldehyde as well as speciality amines, oxalic acid, nitric acid, sodium nitrate, and nitrogen-monoxide.The transaction took place on 15 Nov. by calling the option stipulated in an agreement the parties signed 27 April 2000, according to a 15 Nov. statement issued by László Kovács, chief executive officer of BorsodChem Rt. BorsodChem-MCHZ has 599 employees and a turnover of HUF 29 801.4 million ($140 million)."