Half of the 514 employees of Meva carriage plant of DrobetaTurnu Severin will be laid off soon, after restructuring stepsdramatically hurt the three plants controlled by Cristian Burci,which have undergone insolvency proceedings since lastNovember.
In 2009, the plants of Caracal (Romvag), Drobeta Turnu Severin(Meva) and Arad (Astra Vagoane) employed 4,800 people, according toTrade Registry data, and in late 2010 they had around 2,500employees left, according to the data the court-appointedadministrators of the three companies provided to ZF.
The Meva plant will cut its headcount as it shifts to maintenanceoperations, with carriage production orders to be covered by theArad plant, which will not operate any layoffs until late June,according to Rudolf Vizental, the representative of Solve Insolvefirm, the administrator of Astra Vagoane Arad.
The three companies, with Astra Vagoane as the most important, holddebts of around 120m euros, accounting for loans, as well as otherguarantees granted by banks. The biggest exposure is that of ING,with around 50m euros, followed by RBS Bank (the former ABN Amro)with 30m euros, Citi with 22m euros and Piraeus Bank, with a lowerexposure.
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