“We are focusing on the core business, in accordance with the efficiency strategy launched several years ago. A part of these measures listed were approved in the shareholders’ meeting in 2008, but were halted because the majority shareholder at the time, the Authority for State Assets Recovery (AVAS), opposed this,” Olaru said.
Oltchim currently has controlling interest in Sistemplast SA (94.4 percent) and owns 18.2 percent of Oltgroup SRL. Beside these participations, the company also plans to sell a plot of land, and a canned meat brand, Raureni. Shareholders will also discuss the company’s revenue and expense budgets.
Economy Minister Adriean Videanu recently told Business Standard that the ministry plans to acquire Arpechim’s petrochemical plant.
Oltchim is controlled by the Romanian state through the Economy Ministry, with 53.26 percent of shares, while German group Petro Carbo Chem (PCC) is the main minority shareholder, with 12.89 percent of shares. The company is listed on the Bucharest Stock Exchange (BVB).
