Oltchim sells collateral assets to focus on core business

State-owned Oltchim is to ask shareholders to accept the sale of the company’s shares in two plastic material producers, in order to focus on the chemical plant’s core business, Oltchim Deputy General Manager, Radu Olaru, told Business Standard. The measure is to be discussed during the general shareholder meeting at the end of April.

“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.