Draslovka reacts to Competetion Commission decision
Draslovka Holding Company (“Draslovka” or “the Company”), a Czech Republic-based, global leader in cyanide-based chemical notes with disappointment the Competition Commission’s decision of 26th November 2021 to prohibit Draslovka’s acquisition of Sasol South Africa Limited’s (“Sasol”) Sodium Cyanide business.
Draslovka is reviewing its legal options with respect to the decision and will seek to engage with the Competition Commission to find resolution for it to secure regulatory approval in the near future.
Draslovka is committed to its proposed investment, which includes the transfer of the Company’s leading, state-of-the-art technology to the plant in Free State, Sasolbourg, in order to increase production, improve the efficiency, stability, and reliability of the plant while also significantly reducing its carbon footprint. In the longer-term, Draslovka also aims to add to its end markets in the South African mining industry by exporting across Africa to meet the growing demand for various CN-based chemical products and services. The Company is committed to improving the environmental and social responsibility credentials of all its businesses.
The planned USD $50m investment into the plant would create new jobs in Sasolbourg and improve the Republic of South Africa’s balance of trade by both establishing the local manufacturing of specialty chemicals products which are currently imported and through the exporting of Draslovka’s broader portfolio of products and services from South Africa to a range of markets around the world.
As previously indicated, Draslovka will address the economic transformation objectives of South Africa, it has partnered with Navuka Investment Holdings as its broad-based black economic empowerment (B-BBEE) partner. Navuka will own 25% plus one share of the SA operations.
About Draslovka a.s.
Draslovka a.s. (Draslovka) is a global leader in cyanide-based chemical specialties and agricultural chemicals including next generation fumigants and biocides. A private holding company based in the Czech Republic, it is owned by four Czech families collaborating within a framework of bpd partners, a leading family office based in Prague. Draslovka has more than 100 years of experience in hydrogen cyanide (HCN) production and HCN chemistry and specializes in the production of fully synthetic and highly purified liquid HCN, which undergoes further processing for application in a variety of downstream products ranging from the mining through to agriculture sectors. Draslovka aims to be a leading global player in the production of cyanides for use in synthesis, mining, and industrial and agricultural applications.
Draslovka operates in three areas:
1. Chemical Specialities – utilizing cyanide-based molecules for a variety of industrial and pharmaceutical applications.
2. Agriculture Solutions – producing sustainable fumigants, fertilizers and growth regulators, which help to increase crop yields.
3. Mining Solutions – producing and supplying high quality CN-based products and services to the mining industry worldwide
About CN-based chemistry
Under the standard chemical naming convention CN stands for nitrile and/or cyanide group that are named according to these rules. Compounds in which the carbon atom of the CN group is attached to an acyclic hydrocarbon fragment are generally named using the suffix nitrile and if CN is bound as a salt or ester of hydrocyanic acid, containing the anion CN− or the group —CN these are generally named using the suffix cyanide.
Cyanide are substances consisting of Carbon and Nitrogen (CN) which are abundant in nature. These CN-based substances have large variety of usages in mining, agriculture, automotive, electroplating & surface treatment, pharmaceutical intermediates, which are used in producing many products of our daily use. For more information about cyanides, their use and effects on environment and human health please go to www.cyanides.org.
About Navuka Investment Holdings
Navuka is a Black Women Owned private company incorporated in the Republic of South Africa. The company is a holding Company with investments in mining, retail and industrial products, with its principal operating asset being Lower Orange River Diamonds (Ply) Ltd.
Issued on behalf of Draslovka by FTI Consulting
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