It also said its loss narrowed nearly 8% to RON159.2 million in the first nine months of the year, from RON172.7 million in the same interval in 2013, due to better use of its financial resources, the elimination of certain costs and the annulment of all consulting agreements.
Oltchim exports surged nearly 38% to EUR67.3 million in the mentioned period, from EUR48.8 million in the first nine months of 2013.
The average number of employees dropped 21% to 2,278 in January-September, from 2,890 in the same period a year ago.
End-September 2014, Oltchim’s overall debts and receivables reached RON3.7 billion, up 1% from RON3.66 billion in the year-earlier interval.
Oltchim, majority owned by the Economy Ministry which holds 54.8% of its shares, 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.
The company opened insolvency proceedings in January 2013. Oltchim’s judicial administrators are Rominsolv and BDO Business Restructuring.