BorsodChem withdraws from privatization of nitrogen plant ZA Tarnow

Hungarian chemicals company BorsodChem has withdrawn from the privatization of nitrogen plant ZA Tarnow after discovering that it would be expected to purchase the whole company. In announcing the withdrawal, Laslo Kovacs, managing director of BorsodChem, said that his company, which is the biggest producer of PVC in Central and Eastern Europe, was interested only in the PVC center at Tarnow. The Treasury Ministry was not prepared to agree to BorsodChem's conditions. However, BorsodChem remains hopeful of a change of heart by the Treasury, although the chances are slight, since several other investors are believed to be interested in ZA Tarnow, among them Aquafil of Italy, Comexport of Brazil, and Petro Carbo Chem of Germany. Commenting on the suggestion that BorsodChem might be interested in buying into ZA Tarnow as part of a consortium, Attila Molnar, president of BorsodChem Polska, said this would not be a good solution, as BorsodChem's interest would only be 10%. (Puls Biznesu, p. 5) P.W.