Exall likely to pull out of Slovak PVC venture. (Europe/Mideast).(Exall Resources tries to sell 10% stake in Novacke Chemicke Zavody)(Brief Article)

Chemical Week,  January, 2003  by Alperowicz, Natasha

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Exall Resources (Toronto) is negotiating to sell its 10% stake in polyvinyl chloride (PVC) producer Novacke Chemicke Zavody (NChZ; Novaky, Slovakia) to two undisclosed investors, CW has learned. The stake includes an option to increase ownership of NChZ to 50%. The other 90% is owned by pension fund 1.garntovana (Bratislava, Slovakia).

Exall cites differences with the NChZ management. "We have made many recommendations to improve the operations at Novaky, which have not been followed, and we are not interested in investing money in the company," says Exall CEO Stephen ...

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