Ramnicu, Romania — Oltchim, a petrochemical company largely owned by the Romanian state and PCC of Germany, has sold its Ramnicu location for RON 589m ($141 m).
The buyer is Chimcomplex, a Romanian listed company based in Borzesti.
Chimcomplex bought the assets of a large petrochemical plant in December 2018. The Ramnicu location has capacity to make polyols, propylene oxide, PVC, caustic soda, and a range of chlorine derivatives.
According to the most recent annual report from Oltchim, in 2018 the company had sales of RON 601bn in its polyether polyols business segment, up 2.6% from RON 501bn in 2017. Oltchim said that exports made up 76% of the sales from this business in 2018.
The whole company had sales of RON 1141bn in 2018, up 18.7% on the previous financial year. EBITDA across the business grew 32.2%, and reached RON 152m in 2018. This compares with RON 115m in 2017.
|Oltchim Numbers 2018 (RON bn)|