Rompetrol Petrochemicals, the petrochemical division of The Rompetrol Group, has restarted the high density polyethylene installation, after resuming the low density polyethylene production recently.
The Rompetrol Group said that it will re-evaluate the economic and financial situation of Rompetrol Petrochemicals according to the evolution of specialized markets and will support measures such as development of new distribution routes, consolidation of relations with traditional partners, as well as continuation of the cost monitoring/reduction program.
At the end of November 2008, Rompetrol Petrochemicals decided to temporarily shut down the low density polyethylene (LDPE) and high density polyethylene (HDPE) installations, this measure being necessary for rebalancing production in accordance with the low demand of polymers, as well as for avoiding stock accumulation. The personnel of the two installations, approximately 24% of the total number of company employees, were temporarily laid off, in virtue of the collective employment contract.
Dumitru Niculi, CEO of Rompetrol Petrochemicals, said: With the support of The Rompetrol Group and its shareholders, Rompetrol Petrochemicals managed to restart the two installations, LDPE and HDPE, temporarily closed down in December 2008 following the constraints of the specialized markets. The production of polymers of the company will get back to normal as of Friday, and the remaining personnel who were temporarily laid off will be recalled to resume their activities.
