Chimcomplex, the company that owns the Oltchim (Vâlcea) and Borzești industrial platforms, ended the first six months of 2021 with a turnover of 1.1 billion lei (233 million euros), doubled from the same period last year, and a net profit of 282 million lei (57 million euros), from losses of 27 million lei in the first part of 2020.
The company’s results are based on the integrated operation of the production flows from the 2 platforms – Onești and Rm. Vâlcea, which allowed the manufacture of record volumes for the main products of the company. Chimcomplex processed 637 thousand tons, an increase of 28% compared to the same period last year, and generated an increase in sales volumes of over 21% compared to the first half of 2020.
Exports, mostly to the European Union markets, accounted for about 78% of total product sales in the first half of 2021. The largest share of total domestic and foreign sales is polyol polyethers and caustic soda. Polyols are a class of organic chemicals from which polyurethane is made, a chemical found everywhere: from furniture, cars, sustainable thermal insulation for buildings to wind turbines or satellites.
The results of the first 6 months of this year, allowed the company to repay 52 million euros of loans contracted in December 2018 for the acquisition of Oltchim assets.
Investments in energy efficiency have led to a further reduction in the company’s carbon footprint. Thus, the specific indicators of CO2 emissions / t physical production or per MWh of energy consumed decreased by about 4%, respectively 35% compared to 2020.
For the second half of 2021, the company expects to consolidate the positive results from June 30, 2021 and maintain the Chimcomplex strategy focused on accelerating the processes of digitization and development of human resources, considered key elements in ensuring the company’s development.
Chimcomplex is preparing investment projects to reduce its carbon footprint and increase energy efficiency, including the construction of high-efficiency gas and hydrogen cogeneration capacities with an installed capacity of 55 MWe in 4 turbines.
The completion of the new polyol production lines will allow the doubling of the current volumes and the modernization of the electrolysis installations that will consolidate the position of national leader of the company in the production of hydrogen from water.
Green chemistry projects will also be launched, through which the company aims to introduce a new segment with green products in its portfolio.
About Chimcomplex
Chimcomplex is the leading manufacturer and supplier of vital chemicals in the region, specializing in polyols, chlor sodium and oxo-alcohols. Strategic company for the Romanian economy, it is the largest chemical plant with 2 industrial platforms in Onești and Râmnicu Vâlcea. In 2020, Chimcomplex registered a turnover of 1.2 billion lei.
