The European chemical industry is going through an aggressive deindustrialization phase these years, due to the wrong energy policies promoted by Brussels. Romania copied this wrong policy and increased it exponentially, in the interest of some energy players protected by the system, says Andrei Laurențiu, Operations Director of Chimcomplex- Râmnicu Vâlcea Branch, in a local interview reported on the Stock Exchange through a report for investors.
“The European chemical industry is going through an aggressive deindustrialization phase these years, due to the wrong energy policies promoted by Brussels. Romania copied this wrong policy and increased it exponentially, in the interest of some energy players protected by the system and you have all heard of those “smart guys”, and as a result, producers in metallurgy, chemistry and 5 other energy-intensive sectors are today stopping their production capacities and relocating them to other states outside the European Union”, claims Andrei Laurențiu.
Chimcomplex, being a “complex” company, decided long before this crisis amplified by political interests and not by those in the economic environment, to close its energy-intensive productions and to continue its activity only with those independent of public policies, he says.
“I ask those who have more time to analyze the company’s results in more detail, to note that the peak of the crisis has passed for us, but the effects reported in the results are delayed. For example, in the first quarter of this year, we recorded costs specific to the closures of capacities from last year, of which I only mention the payment of the 5 voluntary salaries, and now you will understand the result better, and from the second quarter, because the restructuring of production was done in our time, we have a profit, but for the entire semester we still end up with a loss. Even if the peak of the crisis has passed over those in basic industries such as chemistry, it has not passed over the other branches of the economy downstream of us and I believe that it will catch many people unprepared, and here our estimate regarding the contraction of the economy is very pessimistic, namely over 25%”, states Andrei Laurențiu.
“No one can measure the negative effects that will flood the market as a result of the shock caused by its contraction (because it is not known how many of the players in the economy are undisciplined, unprepared or even worse, still choose to remain anesthetized by the totally distorted information in the media), and in the face of this reality, we are also preparing for the scenario of a new contraction. As a result, we are analyzing scenarios for entering into negotiations with banks, suppliers, extending payment deadlines, we may also delay the payment of salaries for a few weeks, but it is out of the question to enter into insolvency, because the SCR Group will help Chimcomplex whenever it needs it and if it is beneficial to all the actors involved.”
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