[image_0]The company invested more than EUR 200 million in the construction of the new facility. The new plant has an annual nameplate capacity of 160 kt, which can be increased by another 40 kt to 200 kt/y depending on future demand. The facility, which utilises BorsodChem's proprietary technology, operates considerably more efficiently than the company's existing TDI-1 plant. Due to the current unfavourable market environment, full utilisation of the new facility is only expected at a later stage. "The Hungarian government is pleased with this significant capacity expansion that Chinese Wanhua Industrial Group has made in BorsodChem, a well-established chemical company, said János Fónagy, Parliamentary Secretary of the Ministry for National Development of Hungary at the opening ceremony of the plant, and he added: "This significant development at BorsodChem, the company representing the largest Chinese investment so far in Hungary, exemplifies the development of Chinese-Hungarian business relations and it is in concert with the Chinese-Hungarian cooperation aiming to improve Hungary's competitiveness. [image_1_right]This important event was also attended, among others, by H. E. Gao Jian, Ambassador of the People's Republic of China in Hungary, several local dignitaries, as well as suppliers and customers of the company. "The opening of the TDI-2 plant is a major milestone for BorsodChem in becoming the leading supplier of TDI in the European market and an important step for Wanhua in the implementation of its ambitious global growth strategy, said Jason Ding, Chief Executive Officer of Wanhua Industrial Group and Chairman of the Board of BorsodChem. "We are very proud of the new facility, which substantially improves production efficiency and contributes to the overall competitiveness of the company. I am sure our customers will appreciate enhanced product quality and reliability of supply. I would like to thank all who diligently worked on the construction of the plant, including contractors, suppliers, and BorsodChem's own employees, Wolfgang Büchele, CEO of BorsodChem added.