“The moves come amid the plummeting orders and work volume mainly generated by the European economic context characterized by a looming economic recession in the countries the company’s main clients come from,” according to the company’s representatives.
Around 95% of Electroaparataj production goes abroad, mainly to ABB Electrification Sweden, ABB France and Promodern France, which are in their turn coping with a lack of sales.
The company has a RON5.8 million capitalization and is 55.3% controlled by investment fund Broadhurst Investments Limited, while Metex Big Bucuresti owns 14.73% of its share capital.
Electroaparataj shares have advanced by 5.04% in the past year amid RON34,226 deals.
(English version by Catalina Apostoiu)