Romanian Romcab to deliver EUR 60 mln in wiring and cables to German company under 2-year contract

Romanian cable manufacturer Romcab Targu Mures will deliver products with a total estimated value of EUR 60 million to German company Klaus Faber. According to an announcement sent to the Bucharest Stock Exchange BVB, the contract has an estimated annual value of EUR 30 million and a period of two years, until 2015. “The Board of Directors of SC Romcab SA approved signing a sales contract with a value exceeding 10 percent of the net turnover related to the last annual financial statements (31 December 2013), with Klaus Faber,” reads the announcement. Romcab is one of the largest manufacturers of copper cables and electrical wiring in Romania. The company’s main shareholder is Sadalbari SRL, with 69 percent of the shares, while Morgan Stanley International holds a 19.7 percent stake. Irina Popescu, irina.popescu@romania-insider.com