Novacke Chemicke Zavody (Novaky, Novaky / Slovakia; www.nchz.sk), a specialist in vinyls production and processing, has applied to a Slovakian court for protection from creditors, as it is unable to pay an EU fine for its alleged participation in a calcium carbide cartel. Novaky has also petitioned the EU Court of First Instance in Luxembourg to suspend enforcement of the fine, which it said would force the company to liquidate.

The vinyls producer said it is taking the action in order to keep operating through the recession, while holding its market position and continuing to fulfil its obligations to customers. With 1,800 employees, Novaky produces emulsion and suspension PVC, along with PVC compounds, organic and inorganic chemicals. Its processing portfolio includes semi-finished products, window profiles and building exteriors.