Four years ago, the Chinese chemical producer Wanhua acquired a nearly 100 percent share in its Hungarian rival, BorsodChem. The price was more than $1.5 billion, making it the largest single Chinese investment in Central and Eastern Europe ever. CCTV America’s Roee Ruttenberg reported.
Wanhua bosses are building an industrial park near the Hungarian facility, with the hope of encouraging other Chinese firms to join.
“If we just ask some individual Chinese company to invest here, it would be very difficult for them. But if we can get a Chinese industrial cluster to invest here, it will create a lot of integration benefits,” Borsodchem CFO Junyan Li said.
These types of ideas will be on the agenda, as leaders from China and Central and Eastern Europe meet, for their annual summit.