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Chemical producer Oltchim estimates the output gap following the explosion on August 14th amounts to 1.4 million EUR, according to a company announcement quoted by NewsIn.
A polyether installation exploded on Tuesday leading to halting activity, most likely to be restarted within five days. The exposion killed one and injured several others. Local auhtorities have started an investigation to find out why the accident occured.
The Authority for State Assets Recovery (AVAS) which is the majority shareholder in Oltchim, promised to reanalyze the company"s investments program in order to prevent future accidents.
Oltchim shares were suspended on Tuesday from trading on the Bucharest Stock Exchange because of the explosion. The shares started to be traded again yesterday and fell 2% to 0.96 RON at opening.
Oltchim posted a net profit of 3.94 million RON in the second quarter of the year, down 30.5% from the first quarter and 10.8% from the same period last year. The company has a share capital 354.695 million RON divided into 3.55 billion shares with a face value of 0.10 RON. Oltchim is listed on Tier 1 of the Bucharest Stock Exchange as OLT.
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