Vulcan will focus on attracting financing needed to carry out contracts and apply reorganization and restructuring measures aimed to reduce costs, the company said in a press release.
Vulcan signed a five-year contract worth EUR105 million with company Kuwait Oil Company to supply 210 pumping units. It will also participate in a new auction organized by the same company to supply 1,300 more pumpjacks.
In December and in the first quarter of 2013, the pump maker will conclude contracts worth 26 million lei (EUR5.8 million) and will start new projects of over RON70 million with companies Bertsch Austria, Azomures, BBS Germania, Black Sea PG Dubai and Standard Kessel (Germany).
In 2013, Vulcan will produce pumping units for oil company OMV Petrom (OMV.RO) and Petrofac. The contracts are worth approximately RON35 million, said the company. (EUR1=RON4.4672)