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Armax Gaz Medias enters insolvency with debts worth 24 mln. euro

On July 3rd, the Sibiu Court admitted Armax Gaz Media?’s application for insolvency, energynomics.ro reports. The company with a history of 100 years is specialized in the production of gear and equipment for the oil and gas industry. Despite the increase of almost 55% in turnover, at 75,47 million lei, Armax Gaz registered losses last year and failed to reduce its debts. Thus, the company reported a loss of almost 13 million lei, while the debts ...

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