OLTCHIM
Losses six times last year's level
This year has been a bad one for Romania’s largest petrochemicals company Oltchim (Rîmnicu Vîlcea / Romania; www.oltchim.ro). Net loss in the nine months to September 2009 stood at EUR 40.3m, significantly worse than last year’s loss of EUR 6.5m. Operating loss stood at EUR 17.2m. Sales plunged more than 50% to around EUR 180m at the operating company and to EUR 183m for the group. Thanks to a number of restructuring efforts, Oltchim was in fact able to reduce costs, but only by about 44% in the period in question.
16.11.2009 Plasteurope.com [214834]
Published on 16.11.2009
German version of this article...