Carom

€80m – Chemicals

Areas of operation:

Acted as financial manager and advisor to a Romanian synthetic rubber, chemicals (MTBE, LPG and Butadiene) and chemical storage plant in Romania in a restart of production leading to a period of profitability before its owners and funders withdrew support due to pressure from their Austrian bank lender group, itself in financial difficulty. Subsequently prepared a sale memorandum for the insolvency administrator and introduced potential international buyers from Asia and Europe to engage in negotiations with the Administrator which are ongoing. 

Company Doctor's Diary

Notes, insights and reflections from Matthew, one of our directors and turnaround experts, as he works with companies during Lockdown.