Employees of largest Romanian chemical producer Oltchim start strike asking for overdue salaries

Around 100 employees at state-owned chemical producer Oltchim, Romania's largest such producer, went on strike on Monday (December 2), after the company failed to pay their salaries for the last two and a half months. Apart from due salary payments, the strikers also asked the state to change the management of the chemical producer, arguing they have been selected based on political criteria. Both the management and the judiciary administrator failed to communicate with the employees about the overdue salaries, workers claim. Some of the employees intend to start a hunger strike on Tuesday, December 3, should they not be offered the needed attention, and if their demands are not met. Oltchim Ramnicu Valcea is currently struggling financially, and is trying to get a EUR 15 million loan to re-open a production hall, but none of the banks want to grand it credit, according to a recent statement from the Economy Minister Andrei Gerea. The state owns around 55 percent of the company's shares, and last year failed to privatize it. It intends to try again in February 2014. So far two Chinese companies, Baota Petrochemical Group and Junlun Petroleum expressed their interest to take part in the privatization. The company is currently under judiciary administration. Oltchim reported a loss of some EUR 38 million in the first nine months of 2013, a drop of 44 percent on the same period of 2012. Meanwhile, its turnover halved, to some EUR 80 million. editor@romania-insider.com