“The Romanian market has significant infrastructure potential. Our goal is to grow at double Romania’s GDP growth rate, so we are aiming for a 10% growth (in sales i.e.),” Jon Penrice, vice president of Dow Chemical’s polyurethane division, told ZF.
If public investment in infrastructure is made and energy regulations put in place, the next step Dow Chemical will take is to bring manufacturing operations in Romania and open a plant in this country, Jon Penrice said.
Dow Chemical’s announcement comes at a time when Romania’s chemical sector is seeing the highest deficit in international trade in goods. The chemical industry exported EUR1.6 billion worth of products last year and imported EUR5.6 billion, so the deficit stood at EUR4 billion.
Three of the largest chemical companies ten years ago – GHCL Upsom, Oltchim and Amonil are now either bankrupt or insolvent.
US investors have a lower presence in Romania than in other countries.
(English version by Loredana Fratila-Cristescu)