Romanian state-owned chemical producer Oltchim recorded a turnover of EUR 11.4 million in September this year, double the EUR 5.6 million registered in the same month of 2012, shows the data provided by the company’s judicial administrators.

“The EBITDA had a positive evolution in this period, reaching a deficit of only EUR 707,000, from minus EUR 8.4 million in September 2012” reads the statement.

In the first nine months of the year, Oltchim recorded a total turnover of EUR 81.54 million.

Oltchim has been under insolvency procedures since January 2013.

This came soon after the state failed to privatize Oltchim in its first privatization stage, which was won by media mogul Dan Diaconescu, who then failed to pay the pledged amount.

Irina Popescu, irina.popescu@romania-insider.com

(photo source: Sxc.hu)