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May 19, 2021

PCC SE: Oltchim must adapt to the trends of the market

The activity of the Oltchim management so far has only deteriorated the situation of the company. This was also the case with the EUR 335 M investment programme enforced during 1995-2007, which was unable to generate value for Oltchim and brought the company to its current bad situation, minority shareholder PCC SE writes in a recent press release. The same happened with the purchase by Oltchim of Arpechim’s pyrolysis installation, which could not be made functional until now, as it is connected to a decommissioned refinery, adds the release. As a consequence, PCC SE considers that Oltchim should adapt to the trends of the market and only restructuring and refocusing the product portfolio can guarantee the future of the chemical works.

During September and October this year, Oltchim generated profit without being integrated with Arpechim. According to the Oltchim management, the situation will go on in November and December 2010 as well, due to market conditions, higher demand and price for caustic soda. This is a result of market trends, rather than Oltchim management’s efforts, which was also confirmed by the statement of Oltchim leading officials, reads the release issued by the minority shareholder.

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