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Anti-Monopoly Office approves sale of NCHZ

The sale of bankrupt chemicals firm Novácke Chemické Závody (NCHZ) will not restrict competition, according to Slovakia’s Anti-Monopoly Office (PMÚ), which has approved the sale of the plant to Via Chem Slovakia, the SITA newswire reported.

The sale of bankrupt chemicals firm Novácke Chemické Závody (NCHZ) will not restrict competition, according to Slovakia’s Anti-Monopoly Office (PMÚ), which has approved the sale of the plant to Via Chem Slovakia, the SITA newswire reported.

The PMÚ investigated whether concentration in the area of production and sale of hydrochloric acid, sodium hypochlorite and liquid sodium hydroxide would violate competition rules. Its final report, confirming that the sale will not harm any of the other companies operating in these areas, became effective on July 20.

NCHZ declared bankruptcy after the European Commission decided last year to fine its former owner, 1. Garantovana, €19.6 million for operating a cartel agreement with other European chemical firms. The commission said that between 2004 and 2007 a group of chemical companies divided the market for powdered calcium carbide, granulated calcium carbide and granulated magnesium in several European countries.

Via Chem Slovakia, a subsidiary of the Czech Via Chem Group, bought NCHZ for €2.2 million. The company already operates a plant producing synthetic resin, Spolchemie in Ústí nad Labem. The group is reportedly owned by businessman Petr Sisák, who was convicted by the Czech courts for embezzling money from the bankrupt První Slezská Banka, SITA wrote.

Source: SITA

Compiled by Radka Minarechová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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