November 25, 2017

Oltchim restarted with advance payments from clients

In the first nine months this year, the revenue of Oltchim Ramnicu-Valcea (OLT) decreased by 47 % to RON 721.9 M (EUR 162.8 M) and the loss was up by 72 % to RON 08.5 M (EUR 69.6 M). In the similar period last year, the chemical plant posted total revenue of RON 1.36 bn and loss worth RON 179.7 M. At the end of September, the Oltchim expenditure was RON 1.03 bn (EUR 232 M), lower by 33 % than in the reference period in 2011. The Oltchim turnover amounted to RON 693.6 bn (EUR 156.4 M) from January to September 2012, almost half of the figure posted for the first nine months of 2011 – RON 1.25 bn.  Also, Economy Ministry Secretary of State Rodin Traicu said yesterday that the Oltchim Ramnicu Valcea chemical plant has been restarted with funds paid in advance by its suppliers and clients. He also said the Oltchim employees could receive their outstanding salaries before November 15.

Source: Nine o’clock (read more)

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