“We plan to register an operating financial result somewhere near zero in 2009, considering that last year we posted losses,” Laurentiu Rusinoiu, STX Braila’s General Manager, told Business Standard.
One of the measures adopted by the company to counter the effects of the crisis was the lowering of the number of subcontractors. “If last year we had an average 1,000 people per month, now we have only 550-600, who we intend to hold onto,” the company official said.
Moreover, Rusinoiu indicated that, as of the beginning of this year, Korean specialists have been applying a Romanian Efficiency Program to cut costs in the two shipyards owned by STX Korea in Romania, STX Braila and STX Tulcea. “We are trying to save money on all segments and to remain competitive on the market,” said the company’s General Manager.
Although expenses have been cut, especially fixed ones, the subsidiary is not excluding investments. Thus, according to Rusinoiu, the company will invest some €1.6 mln in 2009 to replace and modernize equipment and carry out maintenance on machinery.
