“Its soda, polyols and oxo-alcohol production lines have average to good technological levels and don’t need major investments. With investments of up to EUR20 million, they could double last year’s turnover. 2008 was a peak year for Oltchim, with a turnover of EUR586 million,” said Bancila.
Chimcomplex, part of the SCR group owned by Romanian businessman Stefan Vuza, has submitted a bid to take over insolvent Oltchim. It seeks to buy five groups of assets and part of a sixth out of Oltchim’s nine asset groups.
Oltchim currently has 1,900 employees and the assets targeted by Chimcomplex employ 1,300-1,400 people. Chimcomplex has 815 employees, said Bancila.