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May 17, 2022

Chimcomplex aims to acquire Rompetrol, offer to be submitted early next year

Chimcomplex Borzesti aims at acquiring Rompetrol (KMG International) as part of its development strategy, the formulation of an offer in this regard will take place at the beginning of 2022, according to a company report submitted last Thursday to the Bucharest Stock Exchange (BVB), Agerpres informs.

“Consistent with its strategies in terms of the development and operation of the Green Division, the company announces that the European Clean Hydrogen Authority has selected three projects submitted by Chimcomplex SA Borzesti to move on to the next stages. These projects, coded as GreenComplex, target the production of hydrogen, hydrogen as a raw material for the chemical industry and hydrogen for thermal energy. All these projects respond to the strategy envisaged by European industry of the large-scale exploitation of hydrogen in Europe. Regarding the Chemistry and Petrochemical Integration Division, the company announced the completion of preliminary studies and the inclusion of the opportunity to develop partnerships and the acquisition of Rompetrol (KMG International) in the company’s development strategy, following the formulation of an offer in this regard at the beginning of 2022,” the document says.

Moreover, in order to finance the mentioned projects and to implement the development strategies, the company envisages starting a bond issue (bonds) in the first half of 2022 and attracting equity partners, at this time being completed the selection process of the international financial consultant who will assist Chimcomplex Borzesti in this endeavor, being about Rothschild & Co.

Chimcomplex is the main producer and supplier of vital chemicals in the region, specializing in polyols, chlorosodium and oxo-alcohols. It is a strategic company for the Romanian economy, the largest chemical plant with two industrial platforms in Onesti and Ramnicu Valcea (southern Romania both).

Chimcomplex is a chemical company with a long tradition, which develops quality products for a better life and a sustainable future. In 2020, Chimcomplex registered a turnover of RON 1.2 billion, and in the first nine months of 2021 the company reported RON 1.7 billion in turnover.

In the past three years, Chimcomplex acquired Oltchim’s assets, meanwhile becoming the largest company listed on the AeRO market of the Bucharest Stock Exchange.


Photo: Facebook/Chimcomplex S.A. Borzesti

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