OLTCHIM S.A.
BVB TICKER: OLT
Phone: +40 250701200
About the company
Oltchim SA is one of the biggest Romanian chemical companies. Production structure
comprises of inorganic chemical products: caustic
soda (liquid, block, flakes, pearls), clhorine, hydrochloric acid, hydrogen peroxide, macromolecular
products (polyvinyl chloride (PVC), polyetherspolyols), synthesis organic products (oxo alcohols - octanol,
iso-butanol),
chlorinated products (perchloroethylene), phthalic anhydride, dioctyl phthalate
(DOP) and
RAMPLAST, which is used in construction industry.
The location of the Chemical Works considered several advantages. The vicinity of Rm. Valcea
has rich sources of gas, oil, coal, lime stone, water. The
existence in the area of a huge salt deposit, estimated to have a reserve for
about 100 years (placed at 8 km distance from the Petrochemical Industrial
Area). Raw materials supply is provided from producers located in
nearby areas (ethylene and propylene supply is provided by Chemical Works
Arpechim - Pitesti, through two underground pipes, each of 60 km. length. The Olt River water
source is located at 0.7 km. The power station
for thermal energy supply is located at 0.5 km. The
numerous skilled labor force in the area. Direct
access to the main road and railroad transportation ways - being connected to
all the borders and Danube and Black Sea ports.
About 70% of the company''s
production is exported and Oltchim brand can be
found in over 40 countries.
History
Oltchim was established in 1966 with the name of Chemical Works
Ramnicu Valcea, by Minister Council Decision 1046/26.05.1966. The erection has
begun in July 1966.
The first plant, Mercury Cells Electrolysis, was
commissioned on 28 July 1968.
1966-1970 - there were commissioned Electrolysis
I plant, PVC-s I plant, The first Vinyl
Chloride plant, Oxo-alcohols I plant, HCH-lindane plant.
1971-1980 - the first development stage of the production profile
took place with new production capacities and the products range broadening by
new second Electrolysis plant, PVC-s II plant, Oxo-alcohols II plant, Vinyl
Chloride II plant, Chlorinated Solvents plant, Propylene oxide, Propylene glycol and polyols plant, Phosgene plant.
1981-1990
- there were released Organic Intermediates plant and Pesticides plant.
In 1990, by Government Decision
1213/20.11.1990, based on the Law 15/1990, the Chemical Works Ramnicu Valcea
turned into a joint-stock company, called Oltchim SA.
1991-1999- the product range was broadened by developing the
production of vinyl co-polymers, polyether polyols, plasticizers, surfactants,
pesticides synthesis and formulation, and plastics processing. The following
objectives were accomplished: Polyether Polyols for rigid foam plant, Surfactant Products plant, The
plant for packages manufacturing and automatic pesticides packaging, "PANPLAST" - PVC insulating panels manufacturing
plant, "RAMPLAST" - PVC profiles for doors and windows
manufacturing plant, "OLTPAN" - sandwich panels
with polyurethane foam insertion manufacturing plant, Hydrogen
Peroxide plant.
2000-2003 – was accomplished Modernisation of
oxo-alcohols plant (synthesis on rhodium catalyst), Electrolysis
with ion exchanging membrane, Unit for caustic
soda flakes,
Unit for chlorinated residues incineration, Unit for demineralized water, Unit
for phthalic anhydride, DOP plant, Unit
for caustic soda pearls, Extension of the propylene oxide
production capacity from 30000 to 60000 t/year, Extension
of the flexible polyols production capacity from 30 000
to 60 000 t/year, Unit for polymeric
polyols, Extension of the PVC production capacity.
Major shareholders
|
Shareholder |
Shares |
Percent |
|
A.V.A.S. |
3,395,705,177 |
95.74% |
|
ALTI ACTIONARI |
151,250,824 |
4.26% |
|
Total No. of Shares |
3,546,956,001 |
|
Nominal Value |
0.1000 |
|
Share Capital |
354,695,600.10 |
Annual financial information (Key financials)
|
|
2006(RON) |
2005(RON) |
2004(RON)* |
|
Fixed assets - Total |
884,060,079.00 |
772,800,745.00 |
767,941,420.50 |
|
Current assets - Total |
493,256,670.00 |
421,195,752.00 |
312,842,960.00 |
|
|
|
|
|
|
Debtors - due within one year |
780,415,952.00 |
631,889,091.00 |
476,595,701.50 |
|
Current assets/Net current liabilities |
-286,609,627.00 |
-208,949,386.00 |
-162,539,650.00 |
|
Total assets less current liabilities |
592,060,626.00 |
557,099,497.00 |
600,527,492.50 |
|
Debtors - due after more than one year |
259,921,845.00 |
233,669,693.00 |
295,810,064.00 |
|
Revenues in advance |
5,496,125.00 |
7,382,916.00 |
4,874,278.00 |
|
|
|
|
|
|
Subscribed paid up capital |
354,695,600.00 |
354,695,600.00 |
354,695,600.10 |
|
Shareholders equity - Total |
332,138,781.00 |
323,429,804.00 |
304,717,428.50 |
|
|
|
|
|
|
Total receivables |
259,393,949.00 |
179,505,435.00 |
134,788,129.40 |
|
Total liabilities |
1,040,337,797.00 |
865,558,784.00 |
772,405,765.50 |
|
|
|
|
|
|
Net turnover |
1,731,805,193.00 |
1,442,065,098.00 |
1,373,995,516.80 |
|
|
|
|
|
|
Operating income - Total |
1,742,100,936.00 |
1,532,113,198.00 |
1,408,663,747.50 |
|
Operating expenses - Total |
1,722,693,746.00 |
1,482,028,225.00 |
1,326,301,189.50 |
|
Operating result |
19,407,190.00 |
50,084,973.00 |
82,362,558.00 |
|
|
|
|
|
|
Financial income - Total |
68,012,608.00 |
41,344,916.00 |
53,466,124.50 |
|
Financial expenses - Total |
78,640,275.00 |
68,786,761.00 |
52,197,542.90 |
|
Financial result |
-10,627,667.00 |
-27,441,845.00 |
1,268,581.60 |
|
Current result |
8,779,523.00 |
22,643,128.00 |
83,631,139.60 |
|
|
|
|
|
|
Extraordinary income |
0.00 |
0.00 |
0.00 |
|
Extraordinary expenses |
0.00 |
0.00 |
0.00 |
|
Extraordinary result |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Total revenues |
1,810,113,544.00 |
1,573,458,114.00 |
1,462,129,872.00 |
|
Total expenses |
1,801,334,021.00 |
1,550,814,986.00 |
1,378,498,732.40 |
|
|
|
|
|
|
Gross result |
8,779,523.00 |
22,643,128.00 |
83,631,139.60 |
|
Net result |
8,779,523.00 |
22,643,128.00 |
83,631,139.60 |
|
Result per share |
- |
0.0066 |
0.0236 |
|
|
|
|
|
|
Back payments - Total |
5,853,982.00 |
11,724,595.00 |
84,144,948.70 |
|
Back payments for suppliers - Total |
5,728,842.00 |
7,246,458.00 |
14,952,973.40 |
|
Back payments of liabilities to the social insurance budget
|
0.00 |
0.00 |
0.00 |
|
Taxes which are not paid to the State budget upon payment
date |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Average number of employees (only full time employees)
|
5048 |
5432 |
6048 |
|
|
|
|
|