Alkaloida Privatization Tender

Unofficial sources say that Hungary's state privatization and holding company, AP Rt, has decided to initiate a tender offer for a 50% stake in drugs and chemical producer Alkaloida Chemicals. A public tender will be held for the stake and a 2 billion forint ($13.7 million) environmental protection investment program will be carried out from the sales revenue, reports MTI Econews.

Provisional figures show that for 1995, Alkaloida recorded an operating profit of 1 billion forint on net sales of 9.1 billion forint. However, the company also had bad debts of 1.36 billion forint. It is forecasting 1996 sales of 8.8 billion forint and operating profit of 1.2 billion forint.