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Romaero signed a contract of over 60 million lei with the Romanian Air Forces for works and delivery of equipment

Romaero Bucuresti, state-run company specialised in maintenance and repair of civil and military planes of passengers transport or cargo signed with the Romanian Air Forces a contract worth over 60 million lei, namely over 130% of the whole turn over made by the company in 2016.

‘The  contract will develop in the first part of the year and deals with delivery of equipment and works for the increase of the availability of the air military transport fleet of our country. With a volume of over 2 million euro/month, the contract is a record for Romaero and we are prepared not to delay a day.The further development of the partnership with the Air Forces – as well as with the other categories of armed forces of Romania – it is the most important objective for Romaero starting with 2018, the potential for involvement in military programmes of this state-run company being very important’ stated for News.ro Remus Vulpescu, the general manager of Romaero Bucuresti.

Romaero prepares to produce state of the art military technics which to deliver firstly to the ministry of national defence.

‘In the previous years Romaero works more for foreign clients than for the national army. Starting with 2017, the governmental strategy in defence allowed us to get the position of first contractor for Romania and Central Europe of some of the best companies abroad, for transfer of advanced military technology. Starting with 2018 we will be able to deliver state of the art military technology made in Romania to the ministry of national defence, if some of the strategic programmes for endowment prepared in the previous year will start in 2018, which we really want to happen. We are working to revitalise the existing production capacities and contribute to the absorption in Romania of some part of the generous endowment budget of the army in 2018 and the next years, in exchange of the products and services not worse than those from abroad’ Remus Vulpescu said.

According to a report published by the company on the site of BVB, Romaero made investments for which the government allocated 1 million lei last year from the state budget.

Similarly, the company increased the social capital at 16.36 million lei, from 15.6 million lei in a public bid which took place between 29 November and 28 December.

‘There were offered a number of 577,264 normal shares, nominative, issued dematerialised, out of which a number of 300,653 shares were subscribed representing 52.08% of the shares’ the report of the company says.

For the first nine months of the previous years, Romaero reported losses of 16.95 million lei, fewer by 37% against the similar period of 2016, when it was 26.93 million lei.

Romaero, company controlled by the ministry of economy, has approximately 760 employees and a value on the market of 143.6 million lei (36.7 million euro). In 2016 the company registered losses of 60.3 milion lei. Through the budget of 2017, Romaero estimated they will close the year with losses of 44.18 million lei and total income of 62.7 million lei.