Contract worth €30 mln for Siemens and Petrom

The General Manager for corporate development at Siemens SRL, Johann Raunig, said that the contract was signed in December 2007. Petrobrazi is one the largest refineries in Romania. “We are interested in signing similar contracts with other refineries in the country,” said Raunig. According to him, Siemens took over 138 Petrom employees from Petrobrazi. “The value of the framework agreement is some €10 million a year for three years, with a possible two-year extension,” Raunig added. He said that Siemens has similar contracts on the European market to modernize OMV Austria-Schwechat and INA Croatian refineries.

The General Manager of Siemens SRL Romania, Adrian Baicusi, said that the company will focus on integrating the new employees and the latest acquisitions. “The focus in 2008 will be on energy, the medical sector, infrastructure and the oil and gas sector,” Baicusi added. The company has maintained its target from the previous two years to double over the increase of Gross Domestic Product (GDP).

Siemens Romania posted profit worth €6.6 mln for the 2007 fiscal year, almost double year-on-year. Petrom, the largest oil company in Romania, posted profit of €538 mln in 2007, 17 percent lower year-on-year.