Romanian Economy Min. wants to hire private managers for state companies with losses

Romania's Economy Ministry will name private managers in state companies which post losses, according to minister Ion Ariton, quoted by Mediafax newswire. “The process of selecting private management is currently under analysis. Companies with losses are the main targets,” said Ariton. The Economy Ministry announced mid-April that it will start this month procedures to privatize the management of a quarter of the 50 companies where it owns the majority share package. These companies include Petrotrans Ploieşti, which is in insolvency, energy producer Termoelectrica, Oltchim Râmnicu-Vâlcea (OLT), coal companies Compania Naţională a Huilei, Societatea Naţională a Lihnitului Oltenia, Societatea Naţională a Cărbunelui, airplane maker Avioane Craiova and Regia Autonomă de Activităţi Nucleare, which runs activities in the nuclear field. Other state-owned companies through the Economy Ministry are Hidroelectrica, Electrica, Transelectrica, Nuclearelectrica, the energy compounds Rovinari, Turceni and Craiova, gas company Romgaz, Transgaz, Oil Terminal, Conpet, Minvest Deva, Compania Naţională a Uranului, Romarm, IAR Braşov. editor@romania-insider.com