The privatization process of the Romanian state-owned rail freight operator CFR Marfa will be completed in 2016, following the agreement signed with the International Monetary Fund, stated by Ioan Rus, Minister of Transport. Present at the inauguration of Deutsche Bahn Accounting Center for Europe in Bucharest, Rudiger Grube, CEO of Deutsche Bahn, stated that
Tag "CFR Marfa"
Romanian state-owned railway freight operator, CFR Marfa estimates for 2014 a profit of RON 23.69 million (EUR 5.2 million), an income of RON 1.11 billion and expenses of RON 1.09 billion. The company has unpaid debt of over RON 208.5 million and receivables of RON 450.7 million. The Ministry of
Romanian state-owned railway companies, CFR SA, CFR Marfa and CFR Calatori have posted increased operational results y.o.y. , stated Ioan Rus, Minister of Transport. CFR SA, the infrastructure manager, has reduced its debts by 50.53% compared to the same period in 2013, from RON 1,490 million lei in September 2013 to RON 737 million
CFR Marfa trims loss by 87%
Romanian state-owned railway freight operator CFR Marfa reported a turnover of RON 681.3 million (EUR 155 million) in January-September 2014, up 3% on the year, while its loss narrowed by 87% to RON 17.7 million (EUR 4 million), down from RON 135.3 million (EUR 30 million) in the same period
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CFR Marfa locomotives maintenance and repair division enters insolvency
CFR Marfa locomotives & equipment maintenance and repair division, S.C. Întretinere si Reparatii Locomotive si Utilaje “CFR – IRLU” S.A. has entered insolvency procedures, after Bucharest Court of Law accepted the company’s request for insolvency. The company provides locomotives modernisation, maintenance and repair services for CFR Marfa, Grup Feroviar Roman (GFR), Unifertrans, Cargotrans Vagon, Train
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CFR Marfa turnover up by 8.4% in H1, to EUR 99 million
CFR Marfa, the Romanian state-owned railway freight operator, has increased its turnover by 8.4% in the first half of the year, to RON437.2 million (EUR 99 million) and the volume of freight carried rose 13%, to 13.6 million tons compared to the same period.The company reported cutting down financial loss by 79% compared to 2013 H1.
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CFR Marfa activity to be affected by Government’s plan to narrow the railway network
The plan to narrow Romania’s railway network should be reconsidered, stated Ion Soare, CFR Marfa Commercial Director, during Mediafax Transport & Logistics conference. CFR Marfa is the only operator providing single wagon load transport services on secondary lines, complete train services representing only 2% of traffic. As a direct consequence of closing down secondary railway lines,
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Half of Romania’s rail network might be transformed into bicycle and pedestrian lanes
According to the Memorandum on “Measures to improve the efficiency of the Romanian railway sector necessary to approve the General Transport Master Plan of Romania”, between 25% and 40% of the 20.077 km national railway network of is subject to closure or leasing to a private operator. In the case of closure,
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What does it take to resist as CEO of a Romanian state-owned railway company for more than one year?
Change is the only constant in the top management of the Romanian state-owned railway companies. It is a harsh reality impacting on their performance and the trust of their business partners. However, recruiting firms, with contracts totaling over half a million EUR, do not complain. Starting with 2011, IMF pushed
After a first failed privatization attempt last year, the selling process of CFR Marfa, the Romanian state-owned rail freight operator, will be resumed in a couple of months and will be conducted through the new Privatization Department which will operate under the Ministry of Economy, Transport Minister Dan Sova declared to
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