AS PART OF THE RESTRUCTURING PROGRAM CE Turceni lays of 200 people

Between 2011 and 2012, the Turceni Energy Complex will be running a restructuring program which stipulates cutting labor costs, said Octavian Graure, the General Manager of the Complex.

He said: "This program involves a number of 200 layoffs and the redistribution of the staff within the company, in order to abandon certain third party services and to keep the employees whose positions have been eliminated from the company".

The layoffs will be performed within 60 days from the date of the publication of the law which established the number of people laid off at the Turceni Energy Complex.

The official of CE Turceni said that "out of the 200 employees that will be laid off, 50 requested to do so, and 150 qualify for retirement conditions".

The funds needed for the severance packages are included in the budget.

• Investments of 991 million lei, in 2011, at the Turceni Energy Complex

The value of the investment implemented by the Turceni Complex in programs for 2011, as approved by the revenue and expense budget, amount to about 991 million lei.

In the first six months of the year, the CE Turceni energy complex continued to run major investment programs, which also includes the implementation of the installations for the desulphuring of the exhaust gas for four energy generation groups, the evacuation of the dross and of the thick silt and the modernization of the electrofilters of energy group no. 4.

The month of August saw the completion of the modernization works for the electrofilter of the energy group no. 4, and the desulphuring installations of group 4 and 5 would be made functional, and, by the end of the year, the desulphuring installations of the energy group no. 3 would be completed as well.

• The revenues of the Turceni Energy Complex - up 60% in the first half of 2011 over the similar period of 2010

The Turceni complex has produced 3,730 GWh, in the first six months of 2011, a 44% increase over the first six months of last year, 34% above the output of the first half of 2009 and 2.5% higher than the output of January-June 2008 - a year when its figures were considered a record in the history of the Turceni power plant.

During the reviewed period, the output of coal increased 36% over the first quarter of last year (from 2.7 million tons to 3.7 million tons).

The price per ton of coal extracted from the company"s own coal mines fell 30% over the first half of 2010.

The revenues of the Turceni Energy Complex increased 60% YOY between January and June 2011, from 644 million lei to over 1 billion lei.

Turnover also increased 50%, from 445 million lei to 670 million lei, the company announced.

The gross operating profit for the current year is expected to reach approximately 80 million lei.

• In 2010, the Complex had a losing year

In 2010, the Turceni Energy Complex had losses in excess of 69 million lei, after, in 2009, the Complex had a profit of approximately 21 million lei.

The company"s turnover in 2010 exceeded 1 billion lei, down slightly however, over the previous year.

In 2010, the debts of the complex amounted to almost 899 million de lei, up from 432 million lei in 2009, according to information from the website of the Ministry of Public Finance.

The receivables of the Turceni Complex fell from 281 million lei in 2009, to 238 million lei in 2010.

At the same time, its number of employees increased from 4,146 to 4,515 people.

The energy maker owns two surface mining exploitations with an output of 6.5 million tons/year and a caloric power of approximately 1,700 kcal/kg, as well as an underground mining facility with an output of 400 million tons/year and a caloric power of approximately 1,900 kcal/kg.

70% of the volume of coal needed by the Turceni Energy Complex is self-produced.

The Turceni Energy Complex still has a market share of approximately 12.5% of the domestic energy consumption.