* The plant of Vâlcea can not save itself through insolvency

The main lenders of Oltchim are willing to provide an additional 25 million Euros in funding to allow it to completely resume operations and become viable, provided the state will contribute with 20 million Euros and subject to a specialized company conducting a review and drafting a restructuring plan, Remus Vulpescu, advisor in the ministry of the Economy, said. "It is important for Oltchim to have no further strikes and social movements. It's true that the workers have overdue wages, but it is very dangerous to halt the plant now. Banks are considering several companies specializing in restructuring, including Alvarez, but I can't tell you which firm will be selected. The employees need to understand that the lenders of Oltchim want to see that there is commitment to the plan to resume activity and that it has results. Solutions to pay the overdue wages will also be found".

The representative of the Ministry of the Economy is among those who supported the insolvency of Oltchim as a way of restructuring the plant. Now, Remus Vulpescu says that Oltchim can't save itself through insolvency: "Oltchim has come to a point where it can't survive without the banks' money. The money will come when the banks will see a well devised restructuring plan, with a removal of the company's leeching, and the banks have this willingness to provide additional funding to the plant to recoup their loans. The authorities and the banks are collaborating very well in the case of Oltchim and I am very optimistic that they will find solutions".

The notification of the state aid for Oltchim is still in the works, and the authorities are hoping that they will receive the approval of the European Commission a few months from now.

The Romanian Society for Trade and Industry will have the ability to help secure