Also, Retrasib aims to increase by RON20 million, at RON60 million, the loan threshold at Banca Transilvania, in order to ensure its working capital.
In August, Retrasib won two RON40 million contracts for Romania’s national grid company Transelectrica (TEL.RO).
“We must increase the production capability to further operate on the market,“ Iulian Stancu, minority stockholder with Retrasib and member with the company’s Board of Directors told ZF.
SGB-Smit is one of the largest manufacturers of transformers in Europe, with factories in Germany, Nederland’s and the United States. The group has EUR500 million turnover and employs almost 2,000 people.
In the first semester of 2015, Retrasib’s sales increased 19%, at RON15.4 million and cut losses by 60%, at RON0.89 million, on the backdrop of lack of orders and postponement of projects as well as of raw materials price fluctuation. In 2014, Retrasib’s business was mainly affected by investments deadlock in renewable power which cut half of the orders.
(English version by Manuela Panescu)