At the recent annual Investor Gala hosted by the Hungarian Investment Promotion Agency (HIPA) at the Museum of Fine Arts in Budapest, Wanhua Chemical was honored with the 2024 "Lifetime Award for Significant Investor". This recognition highlights the company’s outstanding contributions to industrial development, regional economic growth, and sustainable investments since its acquisition of BorsodChem in 2011.
In 2011, Wanhua Chemical acquired BorsodChem in Hungary for €1.23 billion, marking the largest Chinese-funded acquisition in Central and Eastern Europe. Since then, Wanhua Chemical has consistently invested in the strategic growth of BorsodChem. In recent years, through key projects such as the construction of a new aniline plant, BorsodChem has localized the production of core raw materials for MDI, enhancing supply chain stability while reducing import transportation costs and carbon footprint. Additionally, a combined heat and power generation project was implemented to meet the increased energy demands from expansion, supplying over one-third of the electricity for the BC production site.
As one of the largest employers in the region, BC Company’s growth has created significant job opportunities, boosting local economic prosperity. Committed to sustainability, BC Company has excelled in its Global Responsible Care initiative, achieving a remarkable 95.7% score in its audit and receiving the EcoVadis Platinum Medal for three consecutive years.
The " Lifetime Award for Significant Investor" is one of HIPA’s highest honors, given to companies that have consistently invested in and nurtured the Hungarian market. Wanhua Chemical is currently the only Chinese-funded company to receive this esteemed award, further solidifying its role as a key player in Hungary’s economic and industrial landscape.
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