Sunday, February 15, 2009

Romania to postpone plans to privatize CFR Marfa


CFR Marfă, the Romanian company which had a ROL 13 million profit by the end of 2007 and currently has a ROL 14 million debt, will not be privatized as the ministry of transport & infrastructure has decided to postpone this process for now.

Mr Radu Berceanu minister of transport & infrastructure said that privatization of CFR Marfă is no longer a priority.

He added that "It would not be profitable now as the company is confronted with losses. Our priority is to improve the financial situation of it. I do not think it is appropriate to sell the company for the moment, because we will receive poor offers."

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