Following companies’ operations, a conclusion can be tinted: new business models are emerging, that links manufacturing closer to services.
GENERAL ELECTRIC SPEEDS ON GREEN
General Electric paid this year USD 3.3 billion for taking over the equipment producer Lufkin Industries, operating a production unit also in Romania, at Ploiesti where it has put some EUR 120 million. Lufkin is also a supplier for GE. Also, in May this year, GE announced it has delivered seven turbines of 17.5 MW for Cerna wind park built by Italian company Energia Verde Ventuno at Tulcea. GE announced that the contract included 10-year valid service and maintenance equipments, worth USD 30 million. The wind park will deliver green energy for around 7,000 households. Worldwide, following data as of 2012, GE delivered turbines exceeding 2 GW installed capacity worldwide, an amount of green energy ready to serve some 1.4 million households in 14 European countries and five on other continents and summing over 7 million hours of commercial operation.
Within a regional tour including Turkey and Poland, John Rice, Vice Chairman of GE “said, regarding GE operations in Romania: “The sectors we are considering for a potential investment in Romania are energy, healthcare and transportation. We acknowledge the quality of employees and the smooth transition of power from one administration to the next. Government stability, transparency and a level playing field to compete with other companies are the determining factors for us to make an investment here.”
TRACTEBEL ENGINEERING GETS ACTIVE IN DOBROGEA AREA
The latest published project of Tractebel Engineering, the business unit of GDF SUEZ Energy Services refers to a 50 MW wind park to be developed at Chirnogeni, in the Dobrogea area, for which the company acts as the owner’s engineer for the construction, a project commissioned by power company Electrica. Tractebel Engineering has been present in Romania since 1997, following the 85 percent take-over of Trapec. The company initially focused on infrastructure projects, but the services portfolio was rapidly broadened to include power projects. These currently represent 55% of the business.
ADREM INVEST SEIZES NEW HORIZONS
At the beginning of this year, Adrem Invest announced the signing of new contracts for industrial engineering exceeding EUR 25 million with companies in China, South Korea and Uzbekistan. Following these contracts, Adrem Invest marks the entering on new markets and consolidates its presence in Asia, Africa and Unites States of America. According to company data, Adrem Invest delivers turnkey engineering projects, the contracts of China being the largest that have been signed. Last year, the company announced that, through its process engineering division – the first division of the Romanian company, established in 1992, it signed this year a contract for the largest facility for degassing of liquid steel in the world and the project is being done for a Chinese company, with deadline in September this year. Adrian Bodea, president of Adrem invest said that he estimates the company’s turnover will be attained 50 percent from exports only.
ROMENERGO GETS EUR 6 MILLION FOLLOWING BOND ISSUING AT MID YEAR
In June this year, Romanian regional investment fund SIF Crisana-Banat (SIF1.RO) said it bought 1.54 million bonds issued by energy contractor Romenergo for 27 million lei (EUR6.06 million). According to investment company data, the bonds will mature in 4 years and were issued at an interest rate of 8%. Romenergo holds a 4.5 percent stake in SIF1, being one of its main shareholders. Also, following a release issued by SIF Banat-Crisana to Bucharest Stock Exchange (BSE), chairman of the Board of Romenergo, El Lakis Najib El, Lebanese citizen, was appointed provisional member of SIF Banat-Crisana CA (SIF1) a vacancy since the latest ordinary general meeting concluded in April this year, when only six out of seven seats in shareholding were occupied after a vote of shareholders.
ROMELECTRO SEES TOP MANAGEMENT CHANGES THIS YEAR
In May this year, Romanian company Romelectro that specializes in complex turnkey projects for energy and environment, announced the appointment of Cosmin Turcu at the helm of the group. The manager, 43 years old, comes to leadership Romelectro after over 16 years of experience in the energy industry, having worked in various management positions in Rompetrol Group. He replaces Gafita Viorel, who was general manager of Romelectro for 18 years, will manage the regional development in as Chairman of the Board of Directors of Romelectro Group. At the beginning of this year, Gafita announced the company’s plans to be involved in projects carried abroad, participating to tenders summing investment objectives estimated at USD 400 million. Locally, the company, whose returns have exceeded EUR 80 million last year, runs five ongoing projects in the fields of environmental and thermoelectric (to be delivered in 2013-2014) and the three objectives of transport and distribution of electrical energy Transelectrica, which are to be completed in the same period.
Romelectro is a company with 100 percent Romanian shareholding (13 shareholders), specializing in complex turnkey
projects for energy and environment. Romelectro is the majority shareholder of three companies with Romanian capital, ISPE, CELPI, Electromontaj Carpathian Sibiu. Together, the four group companies Romelectro exceed 1,200 employees and makes EUR 100 million turnover.
