Oltchim general manager Victor Avram attended the inauguration of an installation of Chimcomplex and said that integrating the two companies into the Romanian Chemical Company would be “a gain for the country”.
Chimcomplex head Dumitru Coman, in turn, said the management team of SCR group, which includes Chimcomplex, has the expertise and solutions needed to rescue Oltchim.
“We believe the Oltchim platform still has potential and only needs a catalysis to integrate the energies of the two teams. We also think this catalysis can be placed within the Oltchim team, together with Chimcomplex,” said Coman.
In the first half of 2015, Chimcomplex had a profit of RON14.5 million and a turnover of RON102 million.
Chimcomplex previously attempted to acquire Oltchim. In 2012, Chimcomplex had filed a bid, but was not declared winner at the auction organized at that time. In December 2013, Chimcomplex said it was planning to raise its capital by RON157 million and then buy the viable assets of Oltchim.
Oltchim, 54.8% owned by the Economy Ministry, halted operations in August 2012 in preparation for a privatization attempt, which failed after the auction winner refused to pay the price agreed with the authorities.