Europe's chemical industry is going through a recession driven by EU energy policies, the
underperformance of the Green Deal and geopolitical tensions.
In response to these conditions, large chemical companies across Europe have chosen to shut down their production capacities one after another. Chimcomplex, a mid-sized company, has decided to reorganize its manufacturing lines for competitive products and to close or relocate energy-intensive operations* to Asia, while launching new chemical product lines.
Rapid changes in Europe demand immediate operational adaptation. Over the past two years, Ștefan Vuza has analyzed industry developments at the European level through constant dialogue with more than 60 international leaders, experts and policymakers from 21 countries. This stage shaped the current transformation plan, which now enters its execution phase.
The planned programs focus on adjusting production capacities, expanding the fine chemicals segment and targeting new markets. Swift reaction to change and direct leadership involvement support internal adaptation processes.
Ștefan Vuza, Chairman and CEO of Chimcomplex:
"We are entering the implementation phase of the plan prepared over the past two years. I am taking over executive leadership to support the teams through the transformation and accelerate the implementation of the necessary measures. I trust Chimcomplex's potential and the company's ability to return to growth within a few months. If the liberal economic policy that shaped Europe in recent decades has been replaced by political interventionism, it is clear that we must adapt. People seek predictability, yet Europe's new realities demand change, and those who adapt first can strengthen their market position. Very few people are able to carry out change, especially without their leader by their side. Questionable decisions made at the European level do not discourage me; they motivate me to focus on real solutions, because I am trained and will act without wasting time and energy reacting. This has always been the difference between a CEO, like those in multinationals who choose to shut down capacities (264 chemical plants were closed in Europe this year), and an entrepreneur who has 'skin in the game' and looks for real, not superficial, solutions, even if that means hundreds of sleepless nights."
In 2022, as Chief Executive Officer, Ștefan Vuza guided the company toward major investments to increase energy efficiency. These investments strengthened Chimcomplex's position as the national leader in hydrogen and green energy production, through the construction of the largest cogeneration plant built in Romania in the last 13 years and the only trigeneration plant in the European chemical industry, both located on the Râmnicu Vâlcea platform.
About ChimcomplexChimcomplex is the leading producer and supplier of vital chemicals in the region, specializing in polyols, chlorosodium and oxo-alcohols. It is a strategic company for the Romanian economy, the largest chemical plant, with 2 industrial platforms in Onești and Râmnicu Vâlcea. Chimcomplex is a company with a 70-year tradition, which develops quality products for a better life and a sustainable future.
In 2024, Chimcomplex recorded a turnover of 1,495 million lei.
* Energy-intensive chemical products are those whose cost structure includes more than 60 percent natural gas and electricity, which in Europe are over 300 percent more expensive than in other economic blocs with which Europe competes directly (the United States, the Arab countries, China and Asia).