Linde to Expand Hungarian Operations | Business| Economy and finance news from a German perspective | DW | 02.02.2004
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Linde to Expand Hungarian Operations

The German industrial conglomerate Linde AG plans to invest €55 million to expand its gases business in Hungary. The company has received an order from the Hungarian chemicals company BorsodChem for the long-term supply of oxygen and nitrogen, for which it will erect an on-site air separation plant worth €22 million. The Wiesbaden-based company also plans to invest another €33 million in a second steam reformer for BorsodChem. Both should be operational by 2005. "These investments are our way of further enhancing our market position in this region," said Dr. Aldo Belloni, a member of Linde's executive board. Linde has signed gas supply contracts with the Hungarian firm worth around €250 million over a 15-year period.