Romanian insolvent Oltchim Ramnicu Valcea chemical plant (OLT) plans to sell its plastics manufacturing unit Ramplast DMC for EUR 6 million plus VAT, after an unsuccessful attempt in 2010, when the price amounted to EUR 7.5 million, pre-VAT, Mediafax reports.
Ramplast is specialized in the production of PVC profiles. The tender will be organized by the consortium of Oltchim’s legal administrators, i.e. Rominsolv and BDO Business restructuring. The unit will be sold by an open outcry auction to be held on Oct. 8, according to information released by the plant’s legal administrators. The companies interested in taking part in this auction will be able to submit their bids by Oct.7.
Economy Minister Varujan Vosganian said on Thursday that Ramplast could be sold to a Galati-Braila-based supplier in order to attract funds.