OMV Petrom Outsources Logistics To Gebruder Weiss In EUR9.6M Deal

05.12.2011 By Andrei Circhelan

Austrian transport and logistics firm Gebruder Weiss concluded a EUR9.6 million contract (plus VAT) with Romanian oil company OMV Petrom (SNP.RO), to supply hub operation and transport services over a four-year interval.

Petrom's drilling and production unit on Thursday said it decided to restructure storage and logistics activities in order to make operations faster, safer and more cost-efficient.

OMV Petrom is currently unfolding storage and logistics activities through the material management department, which has 700 employees in a structure of seven hubs and four mini-hubs.

Gebruder Weiss entered the Romanian market in 2001, when it bought 53% of Cargolog. The company operates through terminals and cross dock centers in Bucharest, Arad, Sibiu, Bacau and Craiova.

OMV Petrom is 51.01% owned by Austrian group OMV, while the Economy Ministry holds a 20.64% stake. Fondul Proprietatea (FP.RO) holds 20.11%, the European Bank for Reconstruction and Development holds 2.03% and 6.21% of stock is free float.

Petrom shares were trading late-Thursday at RON0.41, down 1.04% on the day.