Romanian chemical company Chimcomplex has reportedly submitted an indicative offer to acquire the assets of insolvent local chemical plant Oltchim.
Chimcomplex is in expansion mode as it seeks to expand its existing operations as well as placing a bid for Oltchims assets. The investments are in line with the companys plans to reposition Romania on the European chemical industry map.
Oltchim, which is 54.8% owned by the Romanian state, has been having financial difficulties for years. It was declared insolvent in 2013. The Romanian authorities have repeatedly attempted to privatise the plant but without success. In August, the company announced it would be put up for sale in nine asset bundles.
The submitted…
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