According to Hajdinjak, the reason for these losses is the fact that certain expenses in the 2007-2009 period were not included in the rates approved by the Romanian Energy Regulatory Authority (ANRE). In this context, E.ON is on the verge of laying off up to 100 employees, following the departure of more than 1,000 employees ...
According to CNPR officials, losses in the first half of 2009 amounted to RON 40 million (some €9.4 mln), compared to gross profit in the same period in 2008 of RON 79 mln (some €21.4 mln), with efforts being made to recover losses.
The financial institution estimates that the losses of local lenders caused by nonperforming loans could amount to nine percent of Romania’s gross domestic product (GDP), namely RON 43 billion (some €10 bln), almost one quarter of the total nongovernmental loan. However, this amount is lower than in other countries, such as Poland and Hungary, where ...
“The situation is not at all surprising because, of the analyzed companies, most produce parts for other producers in the EU as well, such as Michelin and Takata. Profits were registered in the first seven months of 2008, when most parts producers did well and had orders, while the losses were registered in the last ...
Several of CFR Marfa’s most important clients, such as ArcelorMittal Galati, Oltchim, Doljchim or Azomures have halted activities. The company announced it would lay off some 8,500 employees by 2010. “The 8,500 employees means some 35-40 percent of the salary funds,” according to a declaration for Business Standard by Mihai Frasinoi, General Manager of CFR ...