Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Historic industrial facility Vulcan in southern Bucharest sold for real estate purposes

Vulcan factories - one of the first industrial sites in Romania, developed in 1904 in southern Bucharest as a branch of the Austrian Joint Stock Company for the Manufacture of Machines and Wagons based in Brno, will be dismantled, and the land will be sold in a deal expected around EUR 35 mln, Adevarul reported.

The company had thrived before WW2 when it covered 80% of the high-pressure equipment market manufactured in Romania, and after WW2 when it produced equipment for Cernavoda nuclear plant - but it failed to survive the decades after the fall of communism.

Vulcan went bankrupt in 2019 and has been controlled by local businessman Ovidiu Tender since 2002.

Last autumn, Ovidiu Tender transferred all the real estate properties of the Vulcan plant to a new company, which he controls. The assets were taken over, at auction, by Vulcan UPE SRL, for EUR 13.1 mln, in the account of the claim held by this company.

After the demolition of the premises, which will cost EUR 7.3 mln, the businessman will still be left with some profit.

andrei@romania-insider.com

(Photo source: Shutterstock)

Normal
Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Historic industrial facility Vulcan in southern Bucharest sold for real estate purposes

Vulcan factories - one of the first industrial sites in Romania, developed in 1904 in southern Bucharest as a branch of the Austrian Joint Stock Company for the Manufacture of Machines and Wagons based in Brno, will be dismantled, and the land will be sold in a deal expected around EUR 35 mln, Adevarul reported.

The company had thrived before WW2 when it covered 80% of the high-pressure equipment market manufactured in Romania, and after WW2 when it produced equipment for Cernavoda nuclear plant - but it failed to survive the decades after the fall of communism.

Vulcan went bankrupt in 2019 and has been controlled by local businessman Ovidiu Tender since 2002.

Last autumn, Ovidiu Tender transferred all the real estate properties of the Vulcan plant to a new company, which he controls. The assets were taken over, at auction, by Vulcan UPE SRL, for EUR 13.1 mln, in the account of the claim held by this company.

After the demolition of the premises, which will cost EUR 7.3 mln, the businessman will still be left with some profit.

andrei@romania-insider.com

(Photo source: Shutterstock)

Normal
 

facebooktwitterlinkedin

10

Romania Insider Free Newsletters