OLTCHIM: In February will be presented the company’s reorganization plan

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Since entering into bankruptcy option is excluded, judicial administrators of the company Oltchim, which is into insolvency, RomInsolv and BDO Business Restructuring will present in February the reorganization plan, which will be approved until March.
The Minister of Economy – Mr. Tudose said “financial evolution over the last year shows that there are positive preconditions for a profitable company reorganization and the bankruptcy hypothesis is excluded”.
Judicial administrators of Oltchim showed that the turnover of the company evolved positively from the insolvency (February 2013), from 5.4 million euros per month to 16 million euros per month in the last months of 2014, recording up time for the last three years the cumulative gross operating profit of 580,000 euros in October and November of 2014.
Oltchim company is controlled by the state through the Ministry of Economy, which holds 54.8% stake.

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