English
The company Electroputere Craiova, which specializes in the manufacturing of locomotives, last year cut its losses almost 2.5 times, from 39.5 million lei to 16.2 million lei. The financial results of the company were "helped" by the income from the sale of a plot of land of 15 hectares to Belgian company Bel Rom as part of a deal of 20 million lei, after reporting total losses of 37.6 million lei at the end of Q3. The plot of land in question will be used for the construction of a mall.
The company"s revenues increased 18% in 2010, from 282.5 million lei to 333 million lei, whereas its expenses increased 8%, from 322 million lei to 349.2 million lei.
Electroputere Craiova has four manufacturing divisions - electric machinery, revolving electric machinery, power transformers and urban and railway vehicles, a division of general services, as well the plants which manufacture Tools, Devices, Testers, Cast and Forged Parts, Repairs and Maintenance of Tools and Technological Installations.
The company is controlled by the Saudis of Al-Arrab Contracting Company Limited, who hold 86.28% of the shares.
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