Since 1958, TMUCB SA has carried out in Romania and abroad complex turnkey technological projects for the chemical and petrochemical, metallurgical, cement, pulp and paper mills, thermal and nuclear power plants, sugar factories, car factories, tanks, transmission and distribution pipelines for petrochemicals, gas, water, steam, etc. The company specializes in the design, manufacture, assembly and assembly of technological machinery and equipment, storage tanks for gas stations, piping systems, metal structures.
“TMUCB is a company which proves that judicial reorganization is a viable solution for business recovery, and insolvency does not mean bankruptcy, if the procedure is applied from the first signs of difficulty. In the case of TMUCB SA, the reorganization procedure was very long: eight years of insolvency, of which six years of reorganization, with many challenges but we are glad that together with the company’s management we found solutions to continue the activity”, said Oana Munteanu, Partner within CITR, who pointed out that the insolvency ensures a fair treatment, both for the company and for the creditors.
During the reorganization procedure, CITR managed the company’s patrimony and paid debts to creditors amounting to RON33 million.
TMUCB ended 2021 with a turnover of RON5.9 million from RON5.5 million in 2020, and a net profit of RON46 million from RON232,754 in 2020, having 85 employees, as per finance ministry data. Its total revenue stood at RON76 million in 2021.
According to CITR, for 2022 TMUCB targets a turnover of RON15 million.
The company entered insolvency proceedings in July 2014 amid financial imbalances. TMUCB ended 2013 with debts of RON155.8 million and fixed assets of RON39.4 million.