OLTCHIM
Production cuts extended for the third month in a row
Romanian petrochemical group Oltchim (Râmnicu Vâlcea; www.oltchim.ro) has extended the “technical unemployment” it first imposed on about 1,000 employees in August (see Plasteurope.com of 11.08.2011) for the third consecutive month. The workers are to receive only 80% of their salaries, group CEO Constantin Roibu announced at the end of September 2011. The PVC producer has been plagued by insufficient working capital, as a result of which it has been unable to uphold production. The Romanian government reportedly is in the midst of drawing up new plans for privatising the ailing company.
06.10.2011 Plasteurope.com [220526-0]
Published on 06.10.2011
German version of this article...