16 December 2009 12:29 [Source: ICIS news]
BUCHAREST (ICIS news)--Romanian chemical producer Oltchim is in advanced talks with oil company Petrom over the purchase of its Arpechim petrochemical assets, the company said on Wednesday.
"We are waiting for the final decision from Petrom's Supervisory Board and soon after we can sign the agreement for purchasing Arpechim,” an Oltchim spokeperson said.
Arpechim's 200,000 tonne/year ethylene cracker, in ?xml:namespace>
Last month, the European Commission launched an investigation over a €49.6m ($71.9m) state guarantee to help Oltchim solve its feedstock difficulties by acquiring petrochemical assets, including the ethylene cracker from Arpechim.
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