Oltchim: from petrochemical giant to a common scrap seller - financiare.ro
 Home Page  | News  | Exchange Rates  | Interbank Rates  | Central Banks  | Capital Markets Authorities  | Romanian Banks  | Archive  | Romanian  
 Finance-Banks  | Economy  | Business  | Capital Markets  | Real Estate  | Cars  | Travel  | HR Careers Education  | Media  | IT & C  | Environment 

News » September, 2014 » 12 September 2014

Oltchim: from petrochemical giant to a common scrap seller
12.09.2014, 14:47 | Economy | 845 views

Since no investor has emerged in recent years, Oltchim plans to expand its activities with new business lines such as growing plants or retail.

Oltchim is far from exiting insolvency and, even worse, can’t seem to attract no offer for the purchase of its shares. Furthermore, any potential takeover is hampered by the European Commission – the Bruxelles officials suspect that including Arpechim in the “privatization kit” might be a covert state aid for OMV Petrom. Meanwhile, chunks of the chemical plant are sold as scrap, and the company seems to shift towards new business activities.

According to Oltchim officials, its balance sheet is much improved. Not long ago, a new department (oxo-alcohols) was tested and, if powered up, would increase the company’s production capacity, “from 25%, which is our current state, to about 40%”, as estimated by Ion Vancea, president of the Valcea branch of Cartel Alfa union, who reckons the new department would employ some 1,000 people.

Read more on Capital.ro

Latest news in category Economy

15.12.2015, ora 00:00 | 1022 vizualizări
Industrial output in the Eurozone rises more than expected
The industrial output in the Eurozone has increased above expectations in October, after dropping for two months in a row, which could mean that the expansion in the region may have accelerated towards the end of the year, according to Eurostat. read more...

10.12.2015, ora 00:00 | 1019 vizualizări
Germany's imports and exports, in decline
Germany's trade with the rest of the world has slowed down in October, as its exports and imports fell compared to September, due to the difficulties on the emerging markets, especially in China, Brazil and Russia. read more...

10.11.2015, ora 00:00 | 802 vizualizări
OCDE cuts estimates concerning the growth of the world economy
The Organization for Cooperation and Economic Development (OCDE) has worsened its estimates concerning the growth of the world's economy, for the second time in the last three months, as the slowdown of the emerging markets is affecting other countries as well, such as Germany and Japan. read more...

Subscribe to newsletter
News: Yes  No 
Exchange Rates: Yes  No 

Top news last 7 days

Publicitate pe acest site
Copyright 1999-2022 Pandora Impex SRL.