Increasing the registered capital of the company by 400 de million lei
The General Meeting of Shareholders at UCM Resita approved the limit of 100 million EURO-s to increase the registered capital of the company, the company still facing with problems in respect of liquid assets.
Starting with May 6th, 2010, the process of shares subscription is focused on three technical stages extending on a time period of 90 days, after which the new body of shareholders will be known.
Increasing the registered capital of UCM Resita S.A. by one hundred million euro-s would signify entering the company to other dimension, solving the issues on long term basis.
Among future shareholders it would be advisable to be also Hidroelectrica S.A.
"Among future shareholders it would be advisable to be also Hidroelectrica S.A.", stated the President of UCM group, Adrian CHEBUTIU. "Besides, between the two companies there is a bilateral relationship, furthermore, when a customer holds 80% of the turnover, it can be considered the shareholder of the company working with", said the President.
"UCM Resita was thus built to participate itself to the construction of national hydro power system, also considering the fact that 72% of the installed capacity in hydro power plants on Romania’s territory is performed by UCM Resita, it is absolutely required that the partnership between these two companies to go well beyond a contracting relationship of trading type", stated the President of the Board of Administration of UCM Resita.
He once again stated that he isn’t concerned about the case where Hidroelectrica S.A. would buy stocks in the following three months: "I have no fear whatsoever in taking over a share of UCM Resita S.A. stocks by the Romanian State".Limiting the activity of UCM Resita on ABC industrial area and focusing the activity on Calnicel industrial area
Concentrating the production capacities and upgrading of equipments represents the necessary step to continue the company existence.
The variant suggested by company management to make the activity efficient is to concentrate the production on Calnicel industrial area, where two more assembling shops are to be built, at the same time it shall be continued the upgrading of the existent equipments and machine-tools also purchasing of new means of production.
Part of the ancient assembling shops on ABC industrial area will be demolished, and the land returned to social life of the city.
Liquidation of historical debts
UCM Resita S.A. will give up two of social objectives presently held, the House of Culture "Corneliu Diaconovici", respectively the Kindergarten PP 7, to cover up the historical debts taken over by the company by the time of privatization. The objectives will be assessed by experts of the Ministry of Finance.
UCM Resita S.A. hopes that by the end of June, the file regarding the giving up of the two socio-cultural buildings is settled favorably.
