OMV Petrom Global Solutions, or OPGS, service center is jointly owned by Petrom and OMV Solutions GmbH, Petrom said in a filling to the Bucharest stock exchange.
“This decision is in line with OMV Petrom’s strategy to focus on the company’s core activity and follows international trends of bundling ancillary services into a service center,” Petrom said.
Approximately 1,000 employees will be transferred to OPGS.
The process, which entails the transfer of IT services, primary accounting and other support activities, is expected to be completed in July.
Petrom is 51%-owned by OMV AG, while Romania’s Economy Ministry holds a 20.6% stake. The company reported a record net profit of 4.82 billion lei (EUR1.07 billion) in 2013, up 22% on the year.
Wednesday, Petrom’s shares closed flat at RON0.439, valuing the company at RON24.86 billion. (EUR1=RON4.4693)