Varlan was the former deputy general manager of Condmag since October 2014. Previously, he was executive manager of the corporate management unit with Conpet Ploiesti, and before that he worked with bearing producer Timken Romania.
Muresan was named general manager of Condmag in October 2014 to restructure the company that posted losses of RON14 million in 2014. He will remain an advisor of the general manager.
In May, Condmag also replaced its financial manager.
The two management changes come as a result of Condmag’s market value halving over the last month due to the partnership with drilling company Dafora Medias (DAFR.RO). Dafora and Condmag are both owned by businessman Gheorghe Calburean.
Moreover, the organized crime department DIICOT put a distrain under Condmag assets worth RON48 million in a criminal file involving Alexandru Liviu Tatar, former general manager of the company.
Condmag, reported lower revenues in the first quarter, at RON7.6 million compared with RON52.8 million during the same period a year before. The company’s loss halved to RON3.4 million in the first quarter.
(English version by Manuela Panescu)