The petrochemical plant Oltchim Râmnicu Vâlcea announced that the general revision scheduled for this year will run from 1 to 11 September.

“During this period, the production activity will be totally discontinued in order to carry out the maintenance works, the technical inspections and the inspections specific to a general revision. These works are carried out according to their specificity with both specialized companies and with own labor force and have a budget allocated from own sources”, shows a company press release sent to the Bucharest Stock Exchange (BVB), according to News.ro.

Oltchim representatives say that the sales activity will not be affected, the company having stocks of finished products that fully cover the contractual obligations of this period.

Oltchim reported 577 million lei worth revenues in the first half of the year, up 20% over the same period in 2017, while net profit rose three times to 84 million lei.

Oltchim entered insolvency proceedings on January 30, 2013, and the consortium of Rominsolv SPRL and BDO Business Restructuring SPRL was appointed as a judicial administrator.

The Romanian state, through the Ministry of Economy, is a majority shareholder, with 54.8% of the shares.