The turnover of COS Targoviste, a company which is in insolvency proceedings since February, fell 3.5 times to RON136.2 million, from RON481 million in the first half of 2012.
The company’s total revenues dropped to RON169.1 million in January-June, from RON492.2 million in the same interval a year ago, and its overall costs decreased to RON188.4 million, from RON551.8 million.
Mechel Targoviste was part of Russian group Mechel, which said in February it sold its assets in Romania to firm Invest Nikarom, owned by Russian Viktor Chumakov and Svetlana Chumakova Svetlana. The transaction also targeted Mechel Campia Turzii, Ductil Steel Otelu Rosu, Ductil Steel Buzau, Laminorul Braila and Mechel Reparatii Targoviste.
According to bourse reports, Cyprus-registered Mazur Investments owns 86.6% of COS Targoviste. (EUR1=RON4.4278)