The Hungarian petrochemicals group Tiszai Vegyi Kombinat RT (TVK, PO Box 20, H-2581 Tiszaujvaros) has paid ROL 7.3bn (USD 1m) for a majority stake in the Romanian company Plastico SA (ROM-Sepsiszentgyörgy). Located in the Transylvania region, Plastico is one of the largest PE film extruders in Romania. It has some 40,000 t/y of capacity although production difficulties and raw materials shortages meant that last year it only produced some 1,000 t of product. TVK, which itself has nearly 60,000 t/y of downstream PE film capacity in Hungary, will have a 67.5% stake in Plastico with the rest of the shares in the hands of private investors and company employees. The acquisition is part of TVK's strategy to develop its plastics processing activities.

READER SERVICE: Brochure company profile TVK: PIE-No. 41743 – Annual Report 1996: PIE-No. 41744 (all documents in English).