Dynea International Oy and BorsodChem Rt are to double production capacity at their jointly-owned plant in Kazinbarcika, Hungary.
The plant, based on Dynea’s formaldehyde process technology, will increase output to 120,000 tonnes per year by the end of 2005.
Borsod will grow its production of MDI (isocyanates), used as a bonding agent in the production of wood-based panels and other timber products, from 60,000 tonnes to 160,000 tonnes annually. The company wants to be a stronger player in the fast-growing MDI business in central and eastern Europe.
Roger Carlstedt, Dynea’s president and chief executive officer, said the new investment in Hungary is an indication of its commitment to customers in rapidly-growing regions within Europe.
The Kazinbarcika plant is run by BCKC Formain Kft, owned jointly by Dynea and Borsod.
