Hidroelectrica acquired UCM Reșita for almost 68 million lei. Thus, Hidroelectrica announced that “the Sale Contract of the business UCM Reșita S.A. was signed to Uzina de Construcții Mașini Hidroenergetice S.R.L., a company whose sole partner is Hidroelectrica SA.” The document is the final act of the transaction and certifies the fulfillment of all conditions by the parties, as well as the payment of the price by the buyer, namely the amount of 67,879,000 lei”, according to a press release.
The transaction regarding the “takeover of the business of manufacturing and selling hydro aggregates and auxiliary equipment, as well as the provision of rehabilitation services, specialized improvement and technical assistance in the energy field, related to the ABC platform and partially to the Calnicel platform”, owned by UCM Reșita S.A. represents a significant step in consolidating Hidroelectrica’s leading position on the hydropower market, the main objective being operational efficiency. By completing the transaction, Uzina de Construcții Mașini Hidroenergetice S.R.L. acquires all the assets, know-how, ongoing contracts, patents and licenses necessary to continue the provision of manufacturing, rehabilitation and improvement services of hydro aggregates and auxiliary equipment. This portfolio, unique in this part of Europe, is strengthened by the experience of approximately 450 employees, specialized in the production and maintenance of hydropower equipment.
“The signing of this contract represents an extremely important moment for Hidroelectrica, a strategic step not only for us, but also for Romanian hydropower. We are focused on what we have to do next, on the consolidation and capitalization of the unit that we took over today and on its integration with Hidroserv, so as to significantly increase the value of both assets. We want to make the most of the potential, to bring added value, performance and competitiveness. Practically, through this acquisition, Hidroelectrica strengthens its technological capabilities and, which is also more importantly, it prepares to meet future industry challenges.
“We are sure that Uzina de Construcții Masini Hidroenergetice S.R.L. shares our vision and we are confident that this transaction will contribute to the positive consolidation of the industry and bring significant benefits to Hidroelectrica.
“We undertake to continue the tradition of excellence of UCM Reșita S.A. – the oldest industrial unit in our country, and the manufacturer of over 80% of the equipment installed in the hydropower plants in the Hidroelectrica portfolio. We also know very well the importance of this unit for the local community of Reșita and we want to build together a new stage of success in the hydropower field,” said Karoly Borbely, CEO of Hidroelectrica.