With no real improvement in its dire situation, Romanian petrochemical group Oltchim (Râmnicu Vâlcea; www.oltchim.ro) has once again sent several hundred employees into technical unemployment. Amid lacking feedstocks and money, CEO Constantin Roibu has decided to send 713 of the group’s 3,500 employees home with only 80% of their regular pay – for most recent coverage, see Plasteurope.com of 06.02.2012.

Although the number is slightly lower than the 1,000 workers affected by the measure in February, a real improvement in Oltchim’s situation probably will only come once the state sells its shares in the petrochemical group to a private investor. Romania’s government plans to complete the sale of its 54.8% stake by the end of April this year.