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Analiza ZF · Economic

Romanian Oltchim Maintains Furlough Throughout December

Romanian chemical company Oltchim Ramnicu-Valcea (OLT.RO) will keep some 1,000 employees on furlough in December as well, for the fifth consecutive month of furlough, because of raw material and working capital shortages.

de Andrei Cîrchelan , Translator RO-EN 25.11.2011 · 10:29 1 min de citit

Between November 15 and November 30, the company suspended labor contracts for some 1,000 employees.

Throughout the furlough, the employees will only receive 80% of their base salary.

At the end of September, Oltchim had 3,470 employees. The company is 54.8% owned by the Economy Ministry, while German PCC SE holds 17.47% and UK investment fund Carlson Ventures holds a 14,02% stake.

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