State secretary in the Economy Ministry Tudor Serban believes that minor Oltchim shareholder, namely the German group PCC SE, wants to see the company bankrupt. "These are the people to be thrown out of the country. You can't do business with these type of people", Tudor Serban told HotNews.ro. The reaction follows the fact that PCC SE salutes the decision of the European Commission to start an investigation regarding the 49.6 million euros state guaranty Oltchim received.
PCC SE did not hide its joy greeting the European commission's decision to launch an investigation on the state help Oltchim received. "PCC SE salutes the European commission's decision. This decision confirms the worries expressed by PCC SE repeatedly during the last months, regarding the fact that the Romanian state measures to help Oltchim might breech the European regulations", a PCC SE communiqué shows.
Tudor Serban: They are probably interested to see the plant bankrupt
Economy Ministry representatives believe that it is in the PCC SE interest to see Oltchim going bankrupt, so that the company could buy the plant for less. "They are probably interested in this company's bankruptcy. What can you say when they rejoice when a solution for Oltchim's stability is not right?", Tudor Serban said. He claims that, according to the privatisation laws, they "would be the first to hold the right to buy [the plant]". Tudor Serban believes that the legislation should be changed from this point of view.
The Economy Ministry is the major shareholder in Oltchim and is leading an open war with PCC SE. Everything started when Oltchim intended to buy the petrochimistry activity from Arpechim, Petrochemicals Arges, which belongs to Petrom. Petrom agrees with the transactions, but the minor Oltchim shareholder tries to block it by all sort of means. This might be rela
