EnglishPaula Bulzan, Arad
Arad Electric Heating Plant (CET) will be split up into two separate companies, while keeping the same owners, in order to qualify for receiving EUR 20 million in European environmental grants. The split up was approved by the members of the General Shareholders" Assembly, in an extraordinary meeting, which was discussed as part of the first stage of the reorganization of the plant.
Cornel Secianschi, general director of CET Arad, said: "We have resorted to this option because the mayor of the Arad, Gheorghe Falcă, started a project to allow the plant to receive environmental grants worth EUR 20 million. However, Romanian legislation does not allow for a large number of shareholders in the company. The plant has almost 200 shareholders that only hold 0.34% of the company. Hence the split up. It is something that has to be done quickly, because otherwise, the chance to receive those funds could be lost".
SC CET Arad SA was created in April 2002, following the reorganization of "Termoelectrica" SA, which resulted in control of the thermal plant being transferred over to the local authorities. Following the merger with Arterm, in 2004, CET took over the full operations of producing, transporting, and distributing thermal energy, becoming the only thermal energy provider in Arad. CET supplies warm water and heating to Arad households and corporate customers.
Euro
Dolar SUA
Franc elveţian
Liră sterlină
Gram de aur
