Romania’s largest chemical producer Chimcomplex to cut 1,200 jobs, cites lack of state support

Chimcomplex, Romania’s largest chemical company and part of the CRC Group (BVB: CRC), will lay off 1,200 employees, shut down energy-intensive production lines, and expand its trading division, owner Ștefan Vuza announced in the company’s annual financial report. The businessman accused the government of failing to include meaningful support for the chemical industry in its economic recovery plans.

Vuza said that despite repeated discussions with officials, the recently announced economic stimulus package offers no concrete measures for the energy-intensive chemical sector, Economica.net reported. As a result, the group will pivot more aggressively toward trading activities, planning to import chemical products worth an additional EUR 1.2 billion annually from countries with what he described as “fair energy policies.” Such a shift, he warned, could widen Romania’s current account deficit by an estimated 15% in the chemical products segment.