The plant of "Oltchim" Râmnicu Vâlcea (OLT) reported losses of 270 million lei in 2011, up 20.9% over 2010, as turnover increased 17.1%, to 1.53 billion lei, according to the preliminary report sent to the Bucharest Stock Exchange.
Revenues increased 15.4%, to 1.64 billion lei, and expenses rose 16.1%, to 1.91 billion lei.
Oltchim is controlled by the state, through the Ministry of the Economy, which owns 54.8%.
On Wednesday the shares of Oltchim were trading at 1.17 lei/share, up 0.34%. The chemical plant has a capitalization of 401.5 million lei (92.3 million Euros).