State Liquidator Offers MAL Assets

Budapest, July 18 (MTI) – The state liquidator has offered for sale the assets of troubled aluminum-oxide maker MAL for 17 billion forints (EUR 55m), the official company gazette Cegkozlony showed.

Ten people died as the result of a red-sludge spill from a reservoir at the MAL plant in Ajka, in west Hungary, in October 2010. MAL was fined 135 billion forints in 2011 for environmental damage resulting from the spill.

A court placed MAL under liquidation in February 2013. The National Development Ministry said at the time that the government would intervene “to permit production to continue in a new company free of liabilities.”

The Hungarian National Asset Management Company (MNV) established a company called Nemzeti-MAL-A Aluminiumtermelo in April 2014 to take over the assets of MAL.

Source: http://mtva.hu/hu/hungary-matters