By Jaroslaw Adamowski
Brzeg Dolny, Poland – Germany's PCC SE is planing to use polish polyol producer PCC Rokita to buy assets of Romania’s Oltchim chemicals group, the Polish company said in a filing to the Warsaw Stock Exchange (WSE).
The state owns 54.8% of polyol producer Oltchim, while Germany’s PCC SE, which is the parent of PCC Rokita , owns 32.34% of the Romanian company.
“The management board of PCC Rokita… informs on the company’s initial interest in the potential acquisition of the assets of the company Oltchim S.A. in Romania,” the statement said. “The company performed an initial inquiry into the assets of the company Oltchim S.A. in Romania in the form of a chemical production installation along with the related infrastructure, including real estate assets.”
Oltchim’s product range includes polyether polyols for flexible and rigid foams, PVC, oxo-alcohols, di-octyl phthalate and various other chemical products, according to data from the Romanian company.
Set up in 1966, the company has been listed on the Bucharest Stock Exchange (BSE) since 1997. Oltchim has been in insolvency since January 2013, and last August, it was split into nine pieces of assets and put up for sale by the Romanian government which is the firm’s majority shareholder.
The Polish manufacturer owns a production facility in Brzeg Dolny, in the country’s south-west. PCC Rokita supplies PU systems to various companies that are predominantly active in the furniture and construction industries.
Set up in 1993 and based in Duisburg, in western Germany, PCC SE says it holds direct and indirect participating interests in more than 70 entities worldwide. The group owns some 39 production sites located in 17 countries with a total workforce of more than 3,000 employees, according to figures from PCC SE.
- The deadline to submit offers for parts of Oltchim was extended to 26 June 2017 in late March, 'due to the complexity of the project,' Oltchim said in a BSE statement.