Via Chem Group Explained

Via Chem Group, a.s.
Founded:	2002^[1]
Hq Location Country:	Czech Republic
Key People:	Petr Sisák^[2] ^[3] ^[4]
Assets:	687 mio. CZK (2012)^[5]
Equity:	-543 mio. CZK (2012)
Parent:	Euro Capital Alliance
Subsid:	STZ Development^[6]

Via Chem Group, a.s. (VCG) is a Czech holding company owned by Euro Capital Alliance registered on the British Virgin Islands. In 2003 VCG acquired 8.8% stake in chemical producer Spolek pro chemickou a hutní výrobu (Spolchemie).^[7] In 2005 VCG acquired further 39% of Spolchemie shares and in early 2006 increased its stake to 62.6%.^[8] Spolchemie is a major Czech producer of chlorine.

In 2008 VCG acquired selected assets of SETUZA and got approval of a bond issue amounting to CZK 1.2 bn payable on 1 October 2013.^[9] The number of employees increased to 1,442.^[10] In 2009 VCG sold a part of acquired SETUZA assets to Archer Daniels Midland^[11] and in 2011 another part to Glencore.^[12] In 2012 VCG acquired bankrupt Slovak company Novácke chemické závody (NCZ).^{[13] [14]} Part of NCZ assets is leased to Energochemica.^[15]

Via Chem Group failed to pay the bonds on 1 October 2013 and was declared insolvent.^[16]

Notes and References

1. Commercial register at justice.cz, IČ 26694590, Via Chem Group, a.s.
2. Jan Žižka, François Vleugels: Po nástupu biopaliv Česku stačí jediná rafinerie, E15, 20 June 2011, "Petr Sisák mne jako majoritní vlastník Via Chemu podporoval" (literally "Petr Sisák supported me as a majority owner of Via Chem"), François Vleugels said in the interview
3. Jakub Hein, The Invisible Businessman, Mediacentar, 24 March 2015
4. [The Prague Post|Prague Post]
5. Annual report of Via Chem Group for 2012, auditor BENE FACTUM, a.s.
6. Consolidated accounting statements of Spolek pro chemickou a hutní výrobu for 2013, page 75
7. Accounting statements of Via Chem Group for 2003, auditor Rudolf Hanusek
8. Accounting statements of Via Chem Group for 2005, auditor Rudolf Hanusek
9. Emisné podmienky dlhopisov Via Chem Group, a.s., ISIN SK4120006289 séria 01, 12,000 bonds with nominal value CZK 100,000
10. Annual report of Via Chem Group for 2008, auditor VGD - AUDIT, s.r.o., page 54
11. Annual report of STZ Development, a.s. for 2009, auditor VGD - AUDIT, s.r.o.
12. Annual report of STZ Development, a.s. for 2011, auditor BENE FACTUM a.s.
13. Accounting statements of Via Chem Slovakia, a.s. for 2012, auditor BENE FACTUM a.s.
14. [European Commission]
15. Annual report of ENERGOCHEMICA SE for 2012, auditor Mazars Audit s.r.o.
16. Insolvency register at justice.cz, KSCB 28 INS 1350 / 2014, document A26