Corrected: Oltchim suspends PVC output at Romanian facilities

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.

Oltchim’s main products are PVC, polyols, dioctyl phthalate (DOP) and caustic soda.

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By: Abache Abreu
+44 2086523214



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