Page 10 - BNE_magazine_bne_July2019_20190707

10 I Companies & Markets bne July 2019
CEO of Nitrogenmuvek Laszlo Bige speaks to RTL Klub.
King of the Hungarian fertiliser market has operating licence suspended
bne IntelliNews
The authorities suspended the operating licence of one of the largest fertiliser plants in Hungary owned by Laszlo Bige on June 7. The businessman said he suspects revenge by the competition and in particular one person, but he did not go as far as naming anyone.
Bige was born in the Romanian town of Oradea, but moved to Hungary in 1984, before the change of regime. He privatised state-owned Tisza Chemical company in 1997 during
the Socialist era. In 2002, when the Socialists returned
to power he acquired MOL's subsidiary Nitrogemuvek, which since has become the largest fertiliser company in Hungary controlling more than half of the market.
Bige's Holding has 13 production basis in Hungary and reported sales of HUF88bn (€250mn) in 2017. The company has invested €450mn between 2014 and 2017 in expanding capacity and rolling out new products. Bige is one of Hungary’s richest people with an estimated wealth of HUF220bn.
On Friday, the local unit of the disaster management directorate in Central Hungary uncovered irregularities
www.bne.eu
at the Szolnok plant and said that safe operation is not guaranteed. The plant may remain closed for up to 90 days, local media reported.
Laszlo Bige told commercial broadcaster RTL Klub that if the situation is not resolved, the factory, providing work for 250 people, could be closed for good. Authorities found only minor irregularities, which should not have warranted such a strict measure, he noted.
Bige has found himself in the middle of large-scale investigation coming from many fronts in the last 12 months.
The authorities raided the factory in November with hundreds of officials from the police, the fire and disaster management departments, which seemed like an excessive presence given the scope of the potential offence.
An investigation was launched into the possible violation of waste management rules and other crimes, but the company did not receive any fines afterward and it cooperated with authorities.