Romanian chemical producer puts three petrochemical plants on sale

Oltchim Ramnicu-Valcea, the biggest chemical producer in Romania, which has been in insolvency since early 2013, has put three of its production units on sale. The assets include a PVC plant in Ramnicu Valcea, a petrochemical plant near Pitesti and a phthalic anhydride plant in Ramnicu Valcea. Oltchim’s judicial administrator hasn’t announced a price for this sale. Last year, Oltchim’s most important assets were purchased by local chemical producer Chimcomplex Borzesti for EUR 127 million. Oltchim recorded sales of almost RON 300 million (EUR 64 million) in the first quarter, up by a third compared to the same period of last year, and a net profit of RON 46.3 million (EUR 10 million), six times higher year-on-year. Romanian chemical producer posts best results since becoming insolvent editor@romania-insider.com