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Oltchim turnover surges by 17.5 pc in 2007

Oltchim Ramnicu Valcea (center south-west) posted in 2007 a turnover of 524 million euros, up 17.5 percent on the previous year, announced on April 7, in a press conference, the company’s director general Constantin Roibu.
For 2010, Oltchim is targeting a turnover of some 821 million euros and for 2012 the estimated turnover is of 1.25 billion euros.
"In the period 1990 through 2007, Oltchim’s turnover increased about 7.5-fold, from 190 million dollars in 1990 to 730 million dollars in 2007", explained the company representative.
Oltchim is one of the largest petro-chemical combines in Europe, with an annual output of more than 500,000 tonnes of Sodium Hydroxide and more than 300,000 tonnes of PVC (Polyvinyl Chloride).
The company carries ongoing negotiations for the takeover of Arpechim Pitesti refinery (south) from Petrom.
"At the end of May we will sign Arpechim takeover contract. We are certain that, if we were to finalize the Arpechim deal, that would turn into one of the most attractive such refineries in Europe", Roibu also said.
According to him, this way, Oltchim eyes a turnover of 2.5 billion euros in the upcoming years.
At present, of the overall Oltchim output, some 33.8 percent is exported to Western Europe, 39.6 percent to Central and Eastern Europe and 23 percent to the Middle East. Oltchim holds 12 petro-chemical installations.
At present, some 53 percent of Oltchim stock is held by the Authority for the State Assets Realization (AVAS) and the remainder is in the private shareholders’ hands.
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