Tiszai Vegyi Kombina - Re Development Project

RNS No 3573b
TISZAI VEGYI KOMBINAT RT.
6th January 1998

In line with the middle-term strategic plan, plastic processing operations at
TVK Rt. are undergoing a dynamic development.  Our company decided on a new
development project in the second half of December, when it concluded purchase
contracts in order to carry out significant expansion in the production of PP
films, marketed under the trade name: Biafol.  TVK has been manufacturing these
films since 1982 from its own feedstocks, in an annual volume of 7-8000 tons.
More than half of the products used for packaging purposes are marketed on
export markets.

In addition to widening the product-mix, the other aim of the development
project is to expand production capacity, since there is an ever increasing
global demand for these products on the domestic as well as on European markets.
The production line with a 15.000 t/y capacity and its auxiliary equipment will
be procured from recognized German and British machine manufacturers working
with state-of-the-art technologies.  The delivery and installation of the
equipment commences in Q4 1998 and the commissioning is planned for Q2 1999.
The total project cost amounts to HUF 5.5 billion.  TVK has entered into a
strategic alliance with Mobil Plastic Europe for preparing and carrying out
developments as well as for marketing.

Mainly special, thin-walled films with high added value will be manufactured
with the new production line.  In addition to fully satisfying domestic demand,
we wish to expand our export markets, especially in the Eastern-European region.

The above project will create additional 100 new jobs at TVK and will yield over
a period of 10 years HUF 10 billion surplus in the sales revenue, calculated in
nominal value.

END

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