April 8 (SeeNews) - Romanian plastics manufacturer Romcarbon [BSE:ROCE] said that it has sent 98 of its employees into technological unemployment as demand for certain products fell due to the COVID-19 pandemic.
The employees sent into technological unemployment in April are engaged in the recycled compounds and polymers division, Romcarbon said in a statement filed with the Bucharest Stock Exchange (BVB) on Tuesday.
In countries such as Germany, France, Sweden, Spain, Netherlands, Belgium, Italy, Bulgaria, Poland, Serbia, Moldova and Hungary, where Romcarbon has significant commercial interests, the volume of orders for such products fell due to restrictive measures taken to limit the coronavirus infection outbreak, it added.
The company's other business lines, especially production of food packaging, continue to operate as usual, Romcarbon said.
Romcarbon has 65 years of experience in the processing of polyethylene, polypropylene, PVC and polystyrene. It is one of the largest employers in the county of Buzau, employing approximately 900, according to its website. The company has branch offices in Bucharest, Iasi and Stefanesti.
Its shares last traded on April 7 at a 1.28% higher price of 0.1185 lei on the BVB.
(1 euro = 4.8314 Romanian lei)