Ramnicu, Romania — Sales of polyether polyols at Romania's Oltchim grew by 14% in the first quarter of 2017 compared to the same period in 2016, the company said in its recently published quarterly report.
Sales in the petrochemical sector segment which is comprised mainly of polyether polyols reached RON 132 m ($32 m) in the first quarter of 2017 up from RON 116 m in the equivalent quarter in 2016, the company said.
The company puts the increase in turnover down to increased "quantities of finished products mainly sold on the foreign markets," The results document shows that the share of sales made in foreign markets increased by 2% to 75% of the company's turnover.
Overall sales of the company in the quarter reached RON 222 m compared to RON 170 m in the first quarter in 2016.
Germany's PCC group is likely to bid for ownership of parts of Oltchim from the Romanian government, the firm's largest shareholder with 54.8% of the firm's equity. The deadline for bids is 26 June 2017. Oltchim is currently under administration.