Romanian engineering company Adrem Invest gets USD 4 mln guarantee letter for Uzbekistan contract

Romanian company Adrem Invest, which specializes in technological engineering, has recently received an USD 4 million guarantee letter from Romanian bank Eximbank, which allows it to work on a contract in Uzbekistan, where it will modernize an iron and steel factory. The contract signed with Uzbek Mettalurgical Plant earlier this year is worth some USD 13 million and is the Romanian company's entry ticket to the new market. Earlier this year, the company signed contracts in China, of some EUR 13 million, and in South Korea – some EUR 2.4 million. The company plans to make half of its turnover this year from exports, according to Adrian Bodea (in picture), president of Adrem Invest, and the company's founder. The company's turnover last year was of some EUR 38 million. Its international expansion started at the end of 2012, when it acquired the Swiss – based firm MTAG Marti Technologie AG and its US subsidiary. editor@romania-insider.com (photo source: Adrem Invest)