In 2012, the company reported a loss of RON51.6 million.
Laminorul, a former unit of Russia’s Mechel, said total sales dropped to RON24.8 million in 2013, from RON193.5 million a year earlier.
Laminorul entered an insolvency process in March last year, one month after Mechel sold its Romanian businesses to Bucharest-based Invest Nikarom for a nominal sum of RON230.
Invest Nikarom, controlled by two Russian nationals, acquired the group’s five assets in Romania, namely Mechel East Europe Metallurgical Division SRL and steel plants Ductil Steel Mechel, Campia Turzii S.A., Mechel Targoviste S.A., and Laminorul S.A. (EUR1=RON4.434)