The reason behind the move is that it has grown too big, as well as the plan to expand into a new market segment.
The split-up plan submitted to the Trade Registry shows the process will create two additional companies, Tinmar Energy and Tinmar Gas. As a result, Tinmar Ind will handle fuel sales, Tinmar Energy will handle electricity supply and Tinmar Gas will operate as a gas supplier.
“We wanted a very clear division of the business because we had grown too big already. The process will take a while, though,” says George Voicu, the current manager of the electricity and natural gas department of Tinmar Ind.
The papers submitted to the Trade Registry also show Tinmar Ind’s medium term plans include entry on the segment of consumers still paying for power at regulated tariffs (households and small businesses), which will gradually switch to the free market as tariffs are dropped by 2017.
Tinmar Ind is a company with 70 employees that grew from EUR15 million revenue in 2007 to EUR541 million last year. It expects EUR650 million revenue in 2015.
(English version by Loredana Fratila-Cristescu)