“We are glad that we have been able to recover, in this time of crisis, some 50-60 percent of the amount owed to the state budget by Rulmentul. Company officials will hold a press conference to announce their plans regarding the project they will begin there,” said Teodor Nicolae, Project Manager of the House of Insolvency Transilvania Cluj-Napoca. According to Nicolae, the Spanish company will begin a real estate project on 44 hectares of land, and production facilities will be reduced and relocated.
Ionita Jenica, one of Central Sun’s associates, quoted by the Buna Ziua Brasov newspaper, said that the Spanish Swiss Financial Corporation investment fund will guarantee the company’s investments in Romania. He added that the firm will invest some €200 mln in building luxury villas and hotels on Rulmentul’s land, which will enter the international tourist circuit.
Company officials plan to acquire other plots of land in close proximity to the city of Brasov, where they will move Rulmentul’s equipment and resume production at 50-60 percent of the former plant’s capacity.
