Orgachim Splits In Two

Orgachim Splits In Two

The management of Orgachim Jsc () has decided to start restructuring procedures and namely to divide the company's activity in two different enterprises. A new company that would be solely responsible for the production of phthalic and maleic anhydride will be set up in compliance with the Commerce Law, Orgachim told

Orgachim is the only manufacturer of phthalic anhydride in Bulgaria with an annual output of 20,000 tonnes. Less than 10% of that quantity is used by the company itself and the rest is sold on the domestic and foreign markets

One of the main reasons for setting up a new company that would have the production of phthalic anhydride as its core activity, is that this business activity differs from the rest and is separated on another location.

Shareholders will receive shares in the new enterprise in proportion to their interest in Orgachim.

The company's management said the separation will make it easier for stockholders to acquire shares, as most of those interested in paints and lacquers business are not familiar with the production of phthalic and maleic anhydride and vice versa.

Ivan Sokolov, Orgachim CEO, said he expects the stock price of the two separated companies to be more attractive for both large and individual investors.

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