www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

USEUROPEAFRICAASIA 中文雙語(yǔ)Fran?ais
Home / Hungary Special

How Chinese investment revived one city

China Daily | Updated: 2019-04-27 07:18

Wanhua purchase of Hungarian chemical plant saved company, boosted area's economic development

BUDAPEST - "Tremendous changes have taken place in this city," said a retired worker who was enjoying the sun in a park in Hungary's northeastern city of Kazincbarcika.

"Roads have been renovated, bike lanes have been built, entertainment facilities for both adults and children have been established, and the city has taken on an artistic look with more flowers and trees," the worker, who prefers to be called as "Laszlo", told Xinhua.

The city has become more and more beautiful thanks to investments by Wanhua Chemical Group, a Chinese company that has not only given the city in Borsod-Abauj-Zemplen County a rebirth, but also "miraculously saved" the Kazincbarcika-based BorsodChem, the largest chemical company in Hungary.

BorsodChem, founded in 1949, is a leading European isocyanate producer, supplying raw material to a wide range of industries like automobiles, construction, clothing, footwear, electronics and pharmaceuticals.

One in every 10 people living in Kazincbarcika, a city of about 30,000, works at BorsodChem. Young people study chemicals in hopes of landing a job with the company, the only major employer at home.

When the 2008 international financial crisis hit, the company, then owned by European investors Permira and Vienna Capital Partners, ran into difficulty due to a seized-up global market and the fact that its owners - two financial firms - had little to offer in terms of technological innovation. The whole city was thrown into panic.

At that difficult moment came Wanhua, which started negotiations to buy BorsodChem's mezzanine debt in 2009 and two years later acquired full control of the company, then laden with a debt of some 150 million euros ($169.69 million).

A chemicals giant based in East China's Shandong province, Wanhua restructured BorsodChem, bringing in advanced techniques and new ways of management.

Most importantly, it cut no jobs.

"If it were not for Wanhua, several thousands of families would face the crisis of unemployment. Just the thought of it is terrifying," said Gabor Kristof, who has worked in BorsodChem for about 14 years.

"I was very concerned when Wanhua just purchased Borsod-Chem. On the one hand, I was afraid that I might be fired. On the other hand, I was worried that I might lose my job in the future due to poor management by the Chinese company," said Csaba Kohaja, chief operation officer of BorsodChem.

Kohaja said facts have proven that his concern was misplaced. BorsodChem was back in the black in 2014. In 2017, it had 13.1 billion yuan ($1.95 billion) in revenues, with a net profit of 3.02 billion yuan, becoming one of the top 100 companies in Central and Eastern Europe.

BorsodChem's revival has not only benefited its employees, but also brought concrete benefits to the local government and residents, helping improve people's livelihood and boosting the city's economic development.

Since the Wanhua takeover, BorsodChem has paid more than 120 million euros in taxes. In 2017, the company was awarded by the Hungarian government for an outstanding performance in fulfilling its social responsibilities.

With a stronger BorsodChem, Kohaja no longer needs to worry about losing his job. In fact, he's been promoted.

"I have full confidence," Kohaja said, "and I look forward to a brighter future with the company."

Xinhua

How Chinese investment revived one city

 How Chinese investment revived one city

A bird's-view of the China-Hungary BorsodChem economic and trade cooperation industrial park in Hungary. Provided to China Daily

(China Daily 04/27/2019 page29)

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 大伊香蕉精品视频在线天堂 | 成人福利在线 | 久久久国产一区二区三区 | 日韩三级在线免费观看 | 91人成亚洲高清在线观看 | 久久精品国产只有精品2020 | 欧美精品亚洲一区二区在线播放 | 国产毛片在线高清视频 | 欧美成人精品一区二区 | 国产精自产拍久久久久久 | 久久久高清免费视频 | 亚洲精选在线 | 99九九99九九九视频精品 | 成人观看免费大片在线观看 | avtom影院入口永久在线 | 免费观看亚洲 | 免费一级成人毛片 | 欧美成人精品一级高清片 | 亚洲美女色成人综合 | 国产tv在线观看 | 成人精品一级毛片 | 黄色香蕉视频 | 中文字幕有码在线视频 | 亚洲欧洲日产v特级毛片 | 免费看v片网站 | 天堂8资源在线官网资源 | 日本一区二区不卡久久入口 | 久草在线视频看看 | 伊人蜜桃 | 在线精品免费观看综合 | 综合 欧美 亚洲日本 | 日本无遮| 国产高清视频在线 | 午夜不卡视频 | 国产在线观看高清精品 | 在线视频一二三区2021不卡 | 男女午夜 | 一级精品视频 | 在线播放成人毛片免费视 | 69视频成人 | 91手机看片国产福利精品 |