TVK
Major expansion in polyolefins / Investment of EUR 430m / Competition for Basell jv?
Tiszai Vegyi Kombinat Rt (TVK, H-3581 Tiszaujváros; www.tvk.hu), the market leader for polyolefins in Hungary and central Europe, is stepping up its production capacity. Investment of EUR 430m has been earmarked for expanding the HDPE facilities from their current 210,000 t/y to 410,000 t/y. Ethylene production is also to be increased from 360,000 t/y to 610,000 t/y. Both plants will be on stream by the end of 2004. TVK last increased its PP capacity in mid-2003 from 42,000 t/y to 182,000 t/y.
The renewed expansion apparently was prompted by the merger between TVK´s petrochemicals division and Slovnaft (SK-82412 Bratislava; www.slovnaft.sk) at the start of 2004, initiated by the mutual parent company MOL (H-1117 Budapest; www.mol.hu). – See PIE 02, 2004. MOL has a 44% holding in TVK. Borsodchem (H-3702 Kazincbarcika; www.borsodchem.hu), which owns 15% of TKV´s shares, is one of the main customers for the ethylene produced. The surplus PP will probably go primarily to Slovnaft. – TVK achieved sales equivalent to EUR 600m in 2003, marking an 11% increase over the previous year. CEO Arpad Olvaso is expecting a further 25% increase by 2005.
This expansion represents serious competition for Basell Orlen Polyolefins sp zoo (PL-09-411 Plock) in central Europe. This joint venture of Europe´s polyolefins market leader Basell (HQ: NL-2132 MS Hoofddorp; www.basell.com) and Polish polyolefins group PKN Orlen (PL-09-411 Plock; www.orlen.pl) is currently investing EUR 500m at its Polish site in Plock. Capacities for HDPE are being increased to 320,000 t/y and for PP to 400,000 t/y (see PIE 06, 2003). Both facilities will come on stream in 2005. Given the similarly planned expansion at Czech and Slovakian competitors, Pawel Pesta, CEO of Chemopetrol (CZ-436 70 Litvinov; www.chemopetrol.cz), has predicted regional overcapacity of 1m t/y for PE by 2008.
• Plasteurope.com Service: TVK report on the first quarter 2004: PIE-No. 46487 • Annual report 2003: PIE-No. 46482.e-Service:TVK report on the first quarter 2004 as PDF document (1,025 KB) TVK annual report 2003 as PDF document (1,155 KB)
The renewed expansion apparently was prompted by the merger between TVK´s petrochemicals division and Slovnaft (SK-82412 Bratislava; www.slovnaft.sk) at the start of 2004, initiated by the mutual parent company MOL (H-1117 Budapest; www.mol.hu). – See PIE 02, 2004. MOL has a 44% holding in TVK. Borsodchem (H-3702 Kazincbarcika; www.borsodchem.hu), which owns 15% of TKV´s shares, is one of the main customers for the ethylene produced. The surplus PP will probably go primarily to Slovnaft. – TVK achieved sales equivalent to EUR 600m in 2003, marking an 11% increase over the previous year. CEO Arpad Olvaso is expecting a further 25% increase by 2005.
This expansion represents serious competition for Basell Orlen Polyolefins sp zoo (PL-09-411 Plock) in central Europe. This joint venture of Europe´s polyolefins market leader Basell (HQ: NL-2132 MS Hoofddorp; www.basell.com) and Polish polyolefins group PKN Orlen (PL-09-411 Plock; www.orlen.pl) is currently investing EUR 500m at its Polish site in Plock. Capacities for HDPE are being increased to 320,000 t/y and for PP to 400,000 t/y (see PIE 06, 2003). Both facilities will come on stream in 2005. Given the similarly planned expansion at Czech and Slovakian competitors, Pawel Pesta, CEO of Chemopetrol (CZ-436 70 Litvinov; www.chemopetrol.cz), has predicted regional overcapacity of 1m t/y for PE by 2008.
• Plasteurope.com Service: TVK report on the first quarter 2004: PIE-No. 46487 • Annual report 2003: PIE-No. 46482.e-Service:TVK report on the first quarter 2004 as PDF document (1,025 KB) TVK annual report 2003 as PDF document (1,155 KB)
24.06.2004 Plasteurope.com [200199]
Published on 24.06.2004