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March 01, 2019 12:00 AM

Oltchim sells polyols assets to Chimcomplex

Utech Staff
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    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)
    Group 2018 2017 Change %
    Sales 1141 961 18.7
    EBITDA 152 115 32.2
    Margin % 13.3 12.0
    Source: Oltchim
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