Its main creditor is lender Banca Comerciala Romana (BCR), which it owes RON78 million. Vulcan’s debts to tax authority ANAF amount to RON46 million.
The company’s turnover fell from RON129 million in 2010 to RON101 million in 2011 and to RON77 million last year.
Vulcan’s loss widened from RON19 million in 2010 to RON30 million in 2011 and RON48 million in 2012, firm Euro Insol, the court-appointed administrator of the company, said Thursday.
Vulcan’s loss in the first four months of 2013 amounted to RON4.7 million.
The company is majority owned by Grupul Energetic Tender, controlled by Romanian businessman Ovidiu Tender. (EUR1=RON4.3895)