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Nita: Cuprumin listing is next, state companies will be restructured

18 July 2014
Economics&Markets
energynomics

Cuprumin is next to be listed on the stock exchange, said the Economy Minister Constantin Nita.

All companies that will not be profitable in 2014 will enter into a extensive restructuring process, he said, quoted by Agerpres.

According to the minister, the management teams will be changed until a team that will be able to bring in profit is found, and the shares will be sold on the stock exchange, while the following listing is of the copper producer Cuprumin.

I sold everything on the stock exchange while in charge of Energy. I will continue in the same manner as Ministry of Economy.

“I sold everything on the stock exchange while in charge of Energy. I will continue in the same manner as Ministry of Economy. For example, Cuprumin is the next company to be listed on the stock exchange. All companies that will have profit this year will come under an extensive restructuring process, we’ll change everything until we find a management team that can bring in profits. These are the rules I’m following, ” said Nita.

Referring to the aircraft factory in Craiova, still under state ownership, Nita said that there are many companies interested to buy the factory, but first it has to be “made to work”.

“We are concerned also about Avioane Craiova. We have discussions with all sorts of companies. I have a rule: first make it work and then sell it. I think it is better this way, than to sell it when it is in a bad situation and everyone gives you next to nothing,” said the Minister of the Economy.

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