Remarul 16 Februarie Mulls Selling Up To 35% Of Assets

04.27.2011 By Andrei Circhelan

Romanian rolling stock maker Remarul 16 Februarie Cluj-Napoca (REFE.RO) plans to sell up to 35% of its assets this year, including train cars and locomotives.

Romanian rolling stock maker Remarul 16 Februarie Cluj-Napoca (REFE.RO) plans to sell up to 35% of its assets this year, including train cars and locomotives.

At the end of 2010, the company had fixed assets worth a total 107.43 million lei (EUR26.37 million).

The measure, proposed by the company's board, will be discussed by shareholders on May 25. At that same date, shareholders will decide whether the company ups its lending cap to EUR15 million.

For this year, the company expects a revenue of RON91.84 million and a profit of RON1.8 million.

The company has a share capital of RON5.1 million, divided into 2.04 million shares with a face value of RON2.5. Its largest shareholders are Transferoviar Grup - 32.96% and Monica Baiculescu - 32%.

Remarul 16 Februarie shares closed Tuesday at RON25, flat on the day. (EUR1=RON4.0767)