“We need a better balance between routes to the West and routes to the East, even tough it entails two different business models in terms of organization,” says Mircea Tiplea, chief executive officer of edy Spedition.
Shipments to the East especially to Russia, Turkey, Ukraine and the “-stan” countries are riskier but generate higher revenue, he added. On the other hand, trucks going east usually travel 200 to 300 kilometers a day on average instead of 700 to 800 kilometers in Europe, Tiplea said.
edy is now insolvent and operates a fleet of 280 trucks, with 70% of its shipments going to Romanian destinations. Its customers include SABMiller and Coca-Cola. The remaining 30% of its business comes from shipments to Western Europe.
The reorganization plan of the company includes the need for a capital injection to renew the current fleet.
“We want to focus on increasing our fleet and market share as of the end of this year. The reorganization plan will set a quick path towards exiting insolvency soon,” Tiplea said.
edy group is 82.5% owned by the Popa family. Private equity fund Westerham Holding controls 17.5% of the shares.
(English version by Loredana Fratila-Cristescu)