In the first nine months of 2011, Oltchim reported a loss of RON179.7 million.
The chemical company reported sales of RON693.6 million in January through September, significantly lower from RON1.25 billion in the year-ago period.
Overall revenue nearly halved to RON721.9 million in the first nine months, while total costs fell 33% on the year to RON1.03 billion.
End-September, Oltchim had outstanding debts totaling RON3.7 billion.
Oltchim has 54.8% of its shares in the hands of the Romanian Economy Ministry, while Germany’s PCC SE holds an 18.32% stake.
The state’s stake was auctioned for some 203 million lei (EUR45 million) in September, but the winner, a controversial local politician and journalist, failed to produce the money in due time.
Prime Minister Victor Ponta said recently that Oltchim’s privatization would be resumed in 2013, pending a restructuring program.
Monday, Oltchim’s shares closed up 1.27% at RON0.5975 in Bucharest. (EUR1=RON4.5442)