Chimcomplex

The main producer and supplier of vital chemicals in the region

WE ADD VALUE TO NATIONAL RESOURCES

We are a strategic company for the Romanian economy, which adds value to the resources of salt, limestone, soda ash, natural gas, petrochemical products. We specialize in Polyols, Chlor-alkali and Oxo-Alcohols.

WE ARE PART OF THE PROGRESS

We are a private chemical company with over 60 years of experience, which develops quality products for a better life and a sustainable future.
We are continuously investing in new technologies to increase efficiency while keeping the focus on environmental protection and sustainability at the heart of our strategy.

WE OFFER EXPERTISE AND THE GUARANTEE OF QUALITY

We are a company with a high level of technical know-how and a specialized workforce, which engages in long-term projects. We guarantee results for our customers by leveraging our long experience, product quality and high capacity for innovation.

WE ARE THE LARGEST EXPORTER WITH A ROMANIAN PRIVATE CAPITAL

We produce and market inorganic and organic chemicals.
As an “industry of industries” we help downstream industries and value chains achieve their goals. We are part of the progress and we sustainably produce the materials that society needs.

GLOBAL VISION

We collect information, research and analyze the evolution of the chemical industry around the world.

MISSION

Our mission is to build a strong, integrated regional chemical company that offers vital products for increasing the quality of life. Our work is guided by several key principles to ensure sustainable growth with a positive impact.

CONCERN FOR EFFICIENCY

We are confident in our future and continue to make significant investments to support our long-term plans.

INVESTING IN DEVELOPMENT

We invest in research for the development of fundamentally new processes and products that can improve the company’s competitiveness in the market in the long run.

We guarantee results for our customers

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OUR VALUES

LOYALTY

HONESTY

TRUST AND ETHICS

SAFETY

INTEGRITY

RESPONSIBILITY

HISTORY

1954

CHIMCOMPLEX was founded in Borzesti, Onesti, Bacau County.

1966-1970

In Râmnicu Vâlcea, was established in 1966 SC OLTCHIM SA under the name of Râmnicu Vâlcea Chemical Plant.

In the two industrial platforms, the needed installations were put into operation for chlorosodium products, oxo alcohols, vinyl chloride, polyvinyl chloride and HCH lindane, all based on foreign licenses.

1971-1980

At Oltchim takes place the development of the production profile from the first stage. New production capacities are put into operation and the product range is diversified with chlorinated solvents, propylene oxide, propylene glycols, polyethers, polyols, phosgene;

1981-1990

At Oltchim, new capacities were put into operation for organic intermediates (amines, chloroformates) and a wide range of pesticides.

1990

The Borzesti Chemical Plant was organized as a joint-stock company.
Since its establishment, successive investments in production have taken place: electrolysis, inorganic chlorides, solvents, PVC, alkylamines, pesticides.

1991

Chimcomplex enters the Trade Register as a joint-stock company with the majority state capital.

1991-1999

The products portfolio has been diversified on both platforms, over 40 basic products in over 78 assortments were developed. Thus we have been producing PVC, polyol polyether, plasticizers, pesticide formulas and formulas for processing plastic materials.
In 1997 Oltchim is listed on the capital market in the first category of the Bucharest Stock Exchange.

2000-2003

Meant the fulfillment of some strategic objectives for the development of Oltchim: modernizations (oxo-alcohols installation, ion exchange membrane electrolysis), commissioning of new installations (caustic soda flakes and pearls, phthalic anhydride, dioctyl phthalate, water demineralization, waste incineration) ) and capacity expansions to existing facilities (propene oxide, flexible polyols, PVC).

2003

The company was privatized by Ștefan Vuza a Romanian entrepreneur.

2004-2011

At Oltchim, capacity modernizations and extensions were carried out at the existing technological installations: propene oxide, polyol-polyethers, PVC and a new waste incineration plant were put into operation, as well as an industrial lime plant. In 2010 the turnover decreases due to the lack of ethylene – the main raw material used in the production process.

2013

Oltchim goes into insolvency;

2018

In December, Chimcomplex completed the acquisition of the main assets of Oltchim SA Ramnicu Valcea. By acquiring these assets, Chimcomplex has strengthened its position as a producer and supplier of chemicals in Europe.

2018-2022

Chimcomplex is a consolidated, stable company with major growth potential and a market value of over 1.6 billion euros, taking into account the multiples of EBITDA in the chemical industry.

Chimcomplex achieved all its goals, including financial ones, but the path was very different from how it was planned. The company had taken decisive actions and had shown a lot of resilience. At the same time, we encouraged employees, focusing on customer needs and supporting its communities. Chimcomplex closed the year with a stronger balance sheet, ready to accelerate its strategy and realize bold plans for the future.

Corporate Governance

The company applies a corporate governance code following the requirements of the Romanian Commercial Code and as part of the inclusion of its shares on the Bucharest Stock Exchange.

The Board of Directors is responsible for establishing the company’s strategy and overseeing its implementation.

Their main responsibilities include approving the financial statements, appointing the President and drawing up the agenda of the Annual Meeting of Shareholders.

The Board of Directors consists of 7 directors.

Corporate governance policies aim to ensure: transparent and sustainable value creation through the clear delineation of responsibilities, management processes and continuous monitoring of the performance and efficiency of the board of directors and the appropriate decision-making process regarding the policy of principles and controls.

Executive Board

One year after the acquisition of Oltchim’s assets, Chimcomplex appointed a new executive team, thus strengthening the management structure of the company.
The new executive team has the role of implementing the company’s development strategy.

Board of Directors

Executive Board

Victor Avram
CEO Chimcomplex

He started working for the chemical industry 30 years ago. He has held several management positions, including in Oltchim. For the last two years, he has been Chimcomplex Chief Operating Officer (COO) and before Rm. Vâlcea Chief Operating Officer, contributing significantly to the company’s growth and development strategy.

Dumitru Coman
CTO Chimcomplex

Part of Chimcomplex team for 30 years. Promoted from the position of General and Technical Director he previously held for 26 years

Dan Moldovan
CCO Chimcomplex

Held the position of Deputy Commercial Manager of Chimcomplex for 3 years. Over 15 years held different management positions in Oltchim

Nicolae Stanciugel
Interim CFO Chimcomplex

Production facilities:

Onesti Facility

Electrolysis Plant – capacity of 120.000 to
Solid Caustic Soda Plant – capacity of 21.000 to
Liquid Chlorine Plant – capacity of 106.800 to
Hydrochloric Acid Plant – capacity of 120.000 to
Ferric Chloride Plant – capacity of 10.000 to
Alkyl Amines Plant – capacity of 7.300 to
Lime Chloride Plant – capacity of 5.800 to
Calcium Chloride Plant – capacity of 37.500 to

Rm. Valcea Facility

Electrolysis Plant – capacity of 120.000 to
Solid Caustic Soda Plant – capacity of 150.000 to
Oxo-Alcohols Plant – capacity of 52.000 to
Hydrochloric Acid Plant – capacity of 51.600 to
Propylene Oxide Plant – capacity of 90.000 to
Flexible Polyols Plant – capacity of 75.000 to
Rigid Polyols Plant – capacity of 20.000 to
Graft Polyols Plant – capacity of 7.500 to