BMI View: There is currently a great deal of uncertainty surrounding the future of Romanian petrochemicals producer Oltchim following the decision to file for insolvency in January 2013 after an attempt to privatise the firm failed. Nevertheless, the relatively strong domestic market is registering growth in the consumption of petrochemicals – particularly in the construction and automotive sectors – and with domestic production at low levels due to structural and financial problems within the industry, Romania appears to be one of the few European markets with the potential for import growth. BMI estimates that chemical production fell by 2.3% y-o-y …
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