The petrochemical plant Oltchim Ramnicu Valcea has conducted in January businesses of about EUR 12.2 million and an operating profit (EBITDA) from operations-amortization of EUR 1.5 million, according to a company release. Total revenues amounted to EUR 12.54 million and expenditures were just under EUR 12 million, shows the synthesis of the financial results of the company.

“Oltchim S.A. recorded a total profit of 589.000 euros in January 2016, with an EBITDA of 1.5 million euros on a turnover of EUR 12.2 million, a share of EBITDA in turnover of over 12%, which is the best monthly economic and financial results recorded by S.C. Oltchim S.A. after the entry into the insolvency proceedings “, say company representatives.

The main measures envisaged by the reorganization plan approved by creditors and implemented between May and December 2015 took into account the modernization of two electrolyzers of the electrolysis membrane plant and the repair of lime furnace, reducing surplus staff and regain markets, especially the foreign ones, pinpoints the document issued by the insolvency plant managers.

In January compared to the same period of 2015, Oltchim increased the quantities of finished products sold to major product groups by 4% polyols-polyethers, product group holding 70% of the turnover, by 17% for the liquid and solid caustic soda and by 54% for the oxo-alcohols products.