Six construction firms controlled by Bacău businessman DorinelUmbrărescu, with cumulated turnover of 217m euros in 2009 andalmost 1,000 employees, will merge in a bid to "boost theefficiency of operations and cut costs," reveals the merger draftpublished in the Official Gazette.
Thus, Tehnostrade, with 153m-euro turnover in 2009, will absorbCom-Axa, Drumuri, A&R, Sped UMB and Tehno-Stone companies andreach net assets worth 242m RON (60m euros).
Umbrărescu's biggest firm, though, is Spedition UMB, distinct fromSped UMB, which will enter this first merger process.
If Spedition UMB in its turn absorbs the other firms, as it wasannounced in June in the Official Gazette, Umbrărescu will beat allRomanian builders in terms of revenues.
The businessman's construction firms would reach joint turnoverworth almost half a billion euros with almost 1,100 employees.However, Umbrărescu stated he would cut the number of employees inthe wake of the merger. He could not be contacted by ZF by editionclose.
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