Czech chemical producer Draslovka Holding to buy CZK 2.23 billion cyanide factory in South Africa

The Czech chemicals producer Draslovka Holding will purchase a cyanide factory from Sasol South Africa Limited for CZK 2.23 billion, the Czech News Agency (CTK) reported on Monday. The purchase is the first major investment by Draslovka on the African continent and is part of the company’s international expansion plan, spokesman Vít Kurfürst told CTK.

Draslovka also plans to invest around CZK 1 billion into modernising the factory, which should enable it to manufacture products that currently have to be imported South Africa, company director Pavel Brůžek told CTK. The funds will also be used to ensure the factory meets the highest international ecological standards, he said.

Draslovka Holding is a company privately owned by four Czech families. Every year, the company produces around 74,000 tons of chemicals. Cyanide products make up about three-quarters of its annual revenue.