Tuesday, November 15, 2011
AP: Romanian chemical plant Oltchim cuts production
November 14, 2011
BUCHAREST, Romania—The Romanian chemical plant Oltchim says it will temporarily reduce production and send 1,000 employees home for the rest of the month.
The company, which is half-owned by the state, says Monday those 1,000 employees will receive only 75 percent of their wages this month. The company, which cut production 30 percent in August, said the move is part of a cost-cutting program due to the high cost of materials and other supplies. It did not say how much more it was cutting production now.
The company, based in Ramnicu Valcea, 170 kilometers (105 miles) northwest of Bucharest, had 3,470 workers in September. It produces caustic soda, oxygenated water, polyvinyl chloride and other substances.