July 24, 2017 6:36 PM ET


Company Overview of S.C. Chimcomplex S.A.

Company Overview

S.C. Chimcomplex S.A. engages in the production and sale of chemical products in Romania. It offers chloralkali products, such as caustic soda solution, caustic soda flakes, liquid chlorine, technical hydrochloric acid, and sodium hypochlorite; and organic solvents, including methanol, trichloroethylene, methylene chloride, and perchloroethylene. The company also provides inorganic chlorides consisting of lime chloride/bleaching powder, ferric chloride, and calcium chloride; and alkylamines, including mono-isopropylamine and methylamines. In addition, it offers sulfuric acid, sodium bisulfate, acetic acid, phosphoric acid, sulfur flakes, and sodium carbonate; plastics; synthesis intermediari...

3 Industriilor Street

Bacau County

Onesti,  601124


Founded in 1954


40 23 430 2250


40 23 430 2102

Key Executives for S.C. Chimcomplex S.A.

Chief Executive Officer
Chief Financial Officer and Director
Age: 58
Commercial Director
Compensation as of Fiscal Year 2017.

S.C. Chimcomplex S.A. Key Developments

Chimcomplex Submits Offer For Oltchim Assets

S.C. Chimcomplex S.A. (‘Chimcomplex’) said on July 6, 2017 that it has submitted an offer to take over the assets of Oltchim S.A. (BVB:OLT). Chimcomplex will be supported in this transaction by Tricon Energy Inc. as a trading partner, five European banks co-ordinated by ING Bank N.V., and two investment funds in London and Dubai. SCR Group, of which Chimcomplex is a part, will become the direct guarantor of the transaction with over €120 million, supported by four business partners - two Romanian, one from Turkey and one from Italy. The biggest competitor to Chimcomplex for Oltchim's assets is PCC SE, which currently owns 32.3% of Oltchim.

Romanian Court Clears Privatization Of Oltchim Chemical Plant

A court in Valcea county, Romania, rejected objections to the privatisation procedure chosen by creditors for chemical plant Oltchim S.A. (BVB:OLT) on June 28, 2017. Bids for Oltchim's core assets are expected by July 6, 2017. Oltchim, which is 54.8% owned by the Romanian state, has been having financial difficulties for years and is currently under insolvency procedures. The Romanian authorities have repeatedly attempted to privatise the plant but without success. Oltchim has now been put up for sale in nine asset bundles. The market value of the assets on sale is evaluated at €294 million and the starting price in the auction was set at €307 million. A number of bidders are reportedly eyeing the assets, but local group S.C. Chimcomplex S.A. controlled by Stefan Vuza is the most vocal. Shareholders in Chimcomplex decided at their June 12, 2017 general meeting to borrow €165 million to finance the takeover of the core assets of Oltchim. Vuza has said that Chimcomplex Borzesti and Oltchim will establish the National Chemical Company in a move to create a major European player drawing on the combined commercial strength of the two companies. More than 10 investors might submit binding bids for the assets, the company's administrator Bogdan Stanescu said, News.ro reported on June 20, 2017. Each of the ten prospective investors are interested in all the bundles, he added.

Chimcomplex Is Reported To Borrow To Finance Oltchim Takeover

Shareholders of S.C. Chimcomplex S.A. decided at their June 12, 2017 general meeting to borrow €165 million to finance the takeover of the core assets of Oltchim S.A. (BVB:OLT), which is currently under insolvency procedures following repeated privatization attempts, Bursa daily reported. Chimcomplex has repeatedly expressed its intention to bid for bundles of Oltchim's assets as it seeks to expand its existing operations and re-position Romania on the European chemical industry map. Oltchim creditors expect bids for company's core assets by June 26, 2017. On June 21, 2017 a court in Valcea will rule on a request to change the privatization strategy. However, the court-appointed manager of the company Gheorghe Piperea has said that the privatization strategy has already been endorsed by the European Commission therefore it complies with the legal requirements.

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