25 October 2011 13:41 [Source: ICIS news]
Correction: In the ICIS news story headlined “Oltchim suspends PVC output at Romanian facilities” dated 25 October 2011, please read in the second paragraph … an 125,000 tonnes/year unit and a 325,000 tonne/year plant, both at Rimnicu Valcea … instead of … an 82,000 tonne/year unit and a 120,000 tonne/year plant … A corrected story follows.
LONDON (ICIS)--Romanian chemicals group Oltchim has temporarily suspended production of polyvinyl chloride (PVC) at its Rimnicu Valcea facilities, a company source said on Tuesday.
Difficulties in securing feedstock supply have caused the shutdown of the company’s two PVC facilities – an 125,000 tonne/year unit and a 325,000 tonne/year plant, both at Rimnicu Valcea – the source added.
Majority state-owned Oltchim could not confirm when operations will restart.
In August, the company announced a reduction of output to 30% of installed capacity and cuts of 1,025 of the company’s 3,454 employees because it could not finance its working capital.
The measures, which were expected to last for the month of August only, were extended to three months because of a continued shortage of working capital and raw materials.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections