MEMORANDUM OF PRESENTATION Present Status Rulmenti SA Slatina (The Company) is under bankruptcy procedure and The Local Court of Law appointed BDO Conti Audit SA as judicial liquidator. Due to this procedure, the judicial liquidator sells only assets, not shares, without any debts, mortgages, labor force or compulsory investment plans. Assets can be sold as a whole (in block) or part of them. According to the Romanian Bankruptcy Law, all assets were evaluated in order to set up a starting price for negotiation. The appraisal report set the value for the Company’s assets to 7.2 million Euro. General Description of the Company The Company is based in Slatina, a town located at 180 km West from Bucharest. It is right by the main road (European 70) and the railway is only 2 km away. The factory is situated in the industrial area of the town. The Company was founded in 1984 and started production in 1989. In 2002, as a state owned company, due to cumulated operating and financial poor performances, the company has been declared bankrupt.
Land and buildings count for 85% out of the total value of the Company’s assets. Land. The total area is about 13 hectares, out of which 40% being covered by buildings. Buildings. The factory has 8 main buildings that have been completed in the same period, between 1987 – 1989. The total surface of constructions is of 52,000 sq.m. and the structure of the spaces is 80% production, 10% utilities, 5% administrative, 5% warehouse. Mr. Florin Cristica |
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