The Austrian films and packaging company, W. Hamburger Unterland AG (HQ: A-6330 Kufstein) has a new major shareholder: Tiszai Vegyi Kombinàt Tr. (TVK, H-3581 Tiszaujvaros). The Hungarian company has acquired the 50% interest that was formerly owned by the Austrian paper industrialist, Thomas Prinzhorn. A further 26% of the shares were sold to TVK by the second owner of Unterland, Richard Labek, which means that the Hungarians now own 76%, with the remaining 24% still held by Labek.

The Hungarian chemical company TVK is a major PE and PP raw material producer and is also one of Unterland´s suppliers. Apart from PE and PP, the company´s production range includes BOPP films (see Plasteurope.com 07, 1998), as well as industrial films and carrier bags, which are made by its Flexofol subsidiary. Wolfgang Schauer, head of marketing on the Unterland Board, told Plasteurope.com that TVK intends to set up a strong films group in Europe and regards Unterland as an important strategic element for this undertaking. He also added that the sale of the shares had nothing whatsoever to do with Unterland´s economic situation, which continues to be characterised by profitability. This was also illustrated by the investment program that had earlier been resolved for 1999. In fact, the company intends next year to spend around ATS 100m on, among other things, three new extrusion lines. According to Schauer, a strong financial partner like TVK will naturally provide a boost for future corporate growth.

READER SERVICE: Provisional 1997 annual report from TVK (English): PIE-No. 42051 – Collection of brochures (English): “Biofol” (BOPP films): PIE-No. 42052 – “Flexofol” (bubble films): PIE-No. 42053.