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of the the the assets on the the the two industrial platforms Borzești and and Râmnicu Vâlcea followed and and next will be the the the the valorization of of the the the the synergies taken into account in in in the the the the business plan of of of the the the the the the best commercial practices on on on on the the the the the the two platforms the the the the the the identification of of the the the the the the solutions for for implementing the the the the the the investment plan or or the the the the the the integration and modernization of the the the computer system All the the strategic investment projects provided in in in the the business plan are on on with 115 million euros for vertical investments being allocated from the internal budget and a a a a a a a deadline for completion of two years Expanding the the business through the the acquisition of production capacities for chemical products different or or or complementary to those currently held by the the the company in in in the the the the the field of of of petrochemicals or or or in in in the the the the the area of of of mineral fertilizers is another priority of of of the the the the company’s management Photo Chimcomplex
The transaction of of of 2018 and the the rescue of of of a a a a a a symbol of of of the the Romanian industry
The most important transaction of of 2018 the acquisition of of of Oltchim assets by Chimcomplex
ended in December 2018 2018 through a a a a a a a a a payment of of nearly 200 million euros From a a a a a a a a a a a a a strategic standpoint 2018 2018 was dedicated
to concluding the international transaction for for taking over Oltchim assets The chosen way for for financing the transaction consisted of attracting international investment funds a a a a a a a a a a a a a procedure that is is still very little used in in transactions on on the the the Romanian market To understand exactly the the the the size of of the the the the success of of this transaction it must be said that in the the the last 10 years Oltchim has had no less than 4 attempts at at at at at privatization all of them ended in failure “In Romania there were only 14 chemical plants left and and the the first two are now merged! Chimcomplex
bought Oltchim and and what lies ahead is obvious more of us us us will unite so that we can fight on an an an equal footing with the the the other players in in the the the business who have have volumes ten times larger than us us us We have have a a a a a a a a a a a a a long but beautiful road ahead and because my team has the the the passion for it it it it we will do it it it it with with or or without the the the consent of of the the the leaders of of our time! Three decades ago Romania’s chemical chemical industry
was exporting chemical chemical products of of 12 billion euro and now after 71%
of of capacities have been closed Romania has come
to to spend 8 billion euros on on imported products Here and now we we are shaping our role to to relaunch
the the the production of of chemicals in in the the the country! And we we will do it!” it it was the the the the the visionary statement of of of Ștefan Vuza
at at the the the time of the the the transaction 88
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Brief history of of the the transaction by which Chimcomplex
SA took over the the most important assets of of Oltchim February 10th 2017 July 6th 2017 October 17th 2017 November 6th 2017 December 7th 2017 December 6th 2018 non-binding offers were submitted by 14 competitors
closing of of of the the the submission of of of the the the binding offers there were 7 competitors
Chimcomplex
was declared the winner
the deposit of EUR 29 million guarantee
approval of the the the the transaction by the the the the creditors Assembly the the the the starting date for for the the the the one-year deadline for for the final payment Chimcomplex
made the the the full payment of the the the transaction managing to get a a a a a a a a loan from the the the international market of 164 million euros Romanian Chemical Company (C R R C C C C ) resulting from the merger of the two major chemical platforms from Borzești and Vâlcea became functional