Major Romanian chemical plant Chimcomplex announces 2030 development strategy

Chimcomplex Borzeşti (CHOB), the largest chemical plant in Romania, with two platforms in Oneşti and Râmnicu Valcea, completed on December 2 the three-year development plan 2018-2021 that began with taking over the core assets of Oltchim, and drafted the strategy for the coming years until 2030, according to a document sent to investors.

This year alone, the company's shares soared 11 times, resulting in a market capitalization of RON 7.2 bln (EUR 1.4 bln).

"We continue to focus on consolidating positive results and the most important strategic goal: to integrate Chimcomplex, part of the CRC (Compania Romana de Chimie) group, into the European circular economy," said Adrian Dumitriu, CFO of Chimcomplex, Ziarul Financiar reported.

The company aims "to deepen and explore synergies, optimizations and group-level integrations under the umbrella of CRC."

At the same time, Chimcomplex announced that its CEO Tivadar Runtag will end his term at the end of the year to take over a new position in the Chimcomplex group of companies where he will coordinate projects and investments in energy efficiency and recycling, respectively for reducing the environmental footprint. The CEO position will be taken over by Victor Avram, who currently holds the position of Chief Operating Officer of Chimcomplex.

(Photo source: Chimcomplex)