Cernev said that the new general manager of Oltchim, Mihai Balan, will present by October 12 a plan to improve the company’s activity. The plan will be discussed with unionists, he added.
Balan said earlier Wednesday he would meet with bank officials to discuss unlocking the company’s accounts to allow the restart of operations and the payment of back wages in two weeks.
Oltchim’s Board on Tuesday appointed Balan as the company’s new general manager, just one day after the government has failed to complete the sale of a 54.8% stake in the financially-troubled company. Balan previously served as general manager of thermal power plant CET Govora.
Oltchim has 54.8% of its shares in the hands of the Economy Ministry, while Germany’s PCC SE holds an 18.32% stake.
The state’s stake was auctioned off for some 203 million lei (EUR45 million) on September 21, but the winner, a controversial local politician and journalist, failed to produce the money by the October 1 deadline. (EUR1=RON4.5262)