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MOL and HELM sign marketing agreement for the distribution of propylene glycols

MOL and HELM join forces on the marketing of propylene glycols in Western Europe and overseas markets. HELM will market propylene glycols produced by MOL´s newly built chemical complex in Tiszaújváros. The 1.3 billion Euro investment will be focusing on the production of 200,000 tons of polyols per year but also has a production capacity of 80,000 tons of propylene glycols.

Janneke Menzel

Janneke Menzel

Manager External Communication

Janneke.Menzel@helmag.com Business Card

Lina Ebel

Lina Ebel

Corporate Communications Manager

Lina.Ebel@helmag.com Business Card

Tiszaújváros/Budapest, Hungary and Hamburg, Germany (March 25, 2022)

Petrochemicals Private Company Ltd. (“MOL”) and HELM AG (“HELM”) have agreed on a long-term marketing co-operation for propylene glycols produced by MOL in its backwards-integrated, newly built polyol chemical complex in Tiszaújváros, Hungary. The product range will include both technical and higher value added monopropylene glycol and dipropylene glycol grades.

The Tiszaújváros complex will produce polyols and propylene glycols using efficient and environmentally friendly technologies such as the HPPO process (propylene oxide from hydrogen peroxide) developed by Thyssen Krupp and Evonik. The overall progress of the Project has exceeded 90%.

In the marketing agreement with HELM, MOL will contribute with its extensive knowledge in the production of petrochemicals, while HELM will provide its supply chain know-how and commercial expertise through its global market presence. Both partners also cooperate on developing the highest standards of certified propylene glycols, to distribute the materials in all fields of applications, including pharmaceutical raw materials as well as industrial applications for unsaturated polyester resin production and to serve the deicing sector.

HELM’s market knowledge and infrastructure ensure MOL’s successful and efficient propylene glycol market entry in the selected regions. However, CEE market sales, as MOL’s home market, will be co-ordinated by MOL.

"HELM is proud to be selected as exclusive marketing partner by MOL to serve the North, West and South of Europe with high quality Propylene Glycols. The cooperation will strengthen HELM´s global set up and enables us to become a major player in Propylene Glycols next to the existing strong position in Ethylene Glycols,“ says Axel Viering, Member of the Executive Board of HELM.

“The polyol project represents an important milestone in the history of the entire MOL Group for stepping forward in the value chain and producing high value-added petrochemical products. We look forward to the collaboration with HELM and believe that it will also be essential for ensuring the successful ramp up of the polyol complex,” stated Gabriel Szabó, Executive Vice President, MOL Group Downstream.

About HELM
HELM is a Hamburg, Germany, based family-owned company established in 1900 generating global revenues of EUR 6 billion per year. HELM is one of the world’s largest chemicals marketing companies. The company secures access to the world’s key markets through its specific regional knowledge and subsidiaries, sales offices and participations all around the globe. As a multifunctional marketing organization HELM is active in the chemicals industry, in the agricultural industry and in pharmaceuticals.

About MOL Group
MOL Group is an international, integrated oil, gas, petrochemicals and consumer retail company, headquartered in Budapest, Hungary. It is active in over 30 countries with a dynamic international workforce of 25,000 people and a track record of more than 100 years. MOL Group operates three refineries and two petrochemicals plants under integrated supply chain management in Hungary, Slovakia and Croatia, and owns a network of almost 2000 service stations across 10 countries in Central & South Eastern Europe. MOL’s exploration and production activities are supported by more than 85 years’ experience in the field of hydrocarbons and more than 30 years in the injection of CO2. At the moment, there are production activities in 9 countries and exploration assets in 14 countries. MOL is committed to transform its traditional fossil-fuel-based operations into a low-carbon, sustainable business model and aspires to become net carbon neutral by 2050 while shaping the low-carbon circular economy in Central-and Eastern Europe.