The chemical plant Oltchim Ramnicu Valcea posted losses worth RON 82.8 M (EUR 19 M) in Q1 this year, against a negative result of RON 2.64 M in the first three months of 2011, Mediafax reports. Total incomes took a 49.3 pc plunge, from RON 519.7 M to RON 263.4 M, while expenses were 33.7 pc smaller, from RON 522.4 M to RON 346.2 M. The turnover, too, suffered a 45.2 pc decline to RON 254.4 M, from RON 464.7 M during January-March 2011, according to a report sent by the company to the stock exchange. At the end of March, Oltchim had debts worth RON 2.55 bln, 8.6 pc higher, while claims declined by 42.9 pc, to RON 162.6 M. Oltchim targets slightly lower incomes than in 2011 and “zero profit,” from losses worth RON 270 M last year. Since 2007, the chemical plant had total losses worth RON 1.01 bln. The last year when it had a profit – though small – was 2006.