Also, the company holds negotiations to sign new deals worth EUR12.7 million.
In March, Vulcan won an auction held by Kuwait Oil Company for the supply of equipments worth $54 million. The deal will develop on a five-year period and eyes the manufacturing and supply of 210 pumping units and connected spare parts to Kuwait Oil Company.
Vulcan swung to a net profit of 11.1 million lei (EUR2.47 million) in the first half, versus losses of RON15.4 million in the year-earlier period.
Vulcan said its first-half sales doubled more than doubled to RON47 million, from RON21.2 million in January-June 2011. Overall revenue also doubled on the year to RON69.9 million, while total costs increased 18% to RON58.8 million.
Vulcan is 74.8% owned by Grupul Energetic Tender SA Bucuresti, a company controlled by businessman Ovidiu Tender. (EUR1= RON4.4939)