UCM Resita said total revenue rose 2% on the year to RON76.7 million in January through June, while overall costs dropped 19% to RON80.8 million.
The company’s turnover stood at RON68.4 million, up 9% on the year.
Founded in 1771, UCM Resita is Romania’s oldest industrial facility and one of the oldest plants in Europe.
UCM Resita was privatized in 2003, when Swiss company INET and UCM employees association took over the majority stake, in a EUR13.1 million deal. INET currently owns a 96.39% stake in the company.
The company entered insolvency in January 2012 and is currently administered by the Euro Insol insolvency firm.
UCM Resita has total debts of approximately RON860 million to 185 distinct creditors, Euro Insol said, citing preliminary figures. (EUR1=RON4.6481)