Euro Insol, the judicial administrator of Uzina Constructoare de Masini (UCM) Resita, has announced the signing of the contract for the sale of the UCM Resita business to Uzina de Constructii Masini Hidroenergetice, a company controlled by Hidroelectrica, Romania’s biggest energy producer.
The value of the transaction amounts to 67.9 million lei The transfer of the UCM business will be made to a new company established by Hidro, which will later merge with Hidroserv Ana Bobircă, Petre-Iulian Nicolescu and Cristian-Nicolae Stoina were elected to the Supervisory Board of Hidroelectrica
Law firm PeliPartners has assisted Hidroelectrica in the process of buying the business lines linked to ABC and Calnicel platforms owned by UCM Resita, Romania’s oldest industrial unit.
Hidroelectrica (H2O.RO), the largest company at the Bucharest Stock Exchange and the most profitable state-run firm, announced in a stock market report on Friday (Dec 8) the signing of the Business Transfer Agreement from UCM Resita (UCMR), specialized in manufacturing and trading of hydro aggregates and ancillary equipment, as well as in providing maintenance services and specialized technical assistance in the energy sector.
Romanian engine manufacturer UCM Resita, a company present on the Main Market of the Bucharest Stock Exchange, posted a RON7.3 million net loss in January-June 2023, from RON415.65 million profit in the same period of last year.