PCC wants to buy majority stake in largest chemical plant

4 mar 2010 Autor: Adrian Cojocar

PCC, held by businessman Waldemar Preussner, which holds 12.1% in chemical plant Oltchim Ramnicu-Valcea (OLT), intends to acquire the majority stake in the Romanian company in order to secure a position among the top five producers of polyols in Europe.
"We came to Romania in order to consolidate the company and grow. We want to buy Oltchim in order to add their 5% of polyols production to our 3%, to invest in new facilities and maybe reach 10% in Europe. This would include us in the middle category of producers. Now we are both marginal, while companies such as Dow Chemicals and Bayer, which account for half of the market, have a strong influence on delivery prices and on raw materials. In addition, they have a global reach," said Wojciech Zaremba, director of business development of German PetroCarboChem (PCC) group.
The PCC manager adds Oltchim's acquisition is among the few solutions that the German company sees to grow on the polyols market.