Pannonplast to Close PVC Foil Plant

Pannonplast announced its intention to close Pannon Aldra, its operation that produced calendered polyvinyl chloride foils, located in Budapest.

Reasons sighted for the closure include contraction of the European market and the crisis in the German building industry.

The company established in 1999, has never achieved positive operating results since its commencement despite modernisation investments, restructurings and commercial and technical support. Rising costs of raw materials in 2002 also contributed to the demise of Pannon Aldra.

The closure will affect the employment of some 130 employees.

For more information on polyvinyl chloride and PVC, click here.

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