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Romanian Economy Ministry Announces First Cos To Have Private Management

Hidroelectrica, Oltchim, SNLO, Electrica Furnizare and Romarm are the first companies under the authority of the Romanian Economy Ministry to have private management, according to an official announcement.
Romanian Economy Ministry Announces First Cos To Have Private Management
Mediafaxfoto - MediafaxRadu Bostan
11 sept. 2011, 16:15, English

Offers for the consultant that will support the ministry in the manager recruitment process must be submitted by Tuesday, September 13, a press release said. The consultant will draft the auction specifications for the five companies, used to select the recruitment firms.

People close to the matter told MEDIAFAX on Thursday that Hidroelectrica, Oltchim, Tarom and CFR Marfa are the companies for which Romanian authorities and the IMF agreed to appoint private management. The complete list will be ready by mid-September. The Economy Ministry proposed seven companies: CNH, SNLO, power producer Elcen, hydropower producer Hidroelectrica, electricity supplier Electrica Furnizare, plane parts maker Romaero, and Oltchim.

The private managers could earn as much as EUR75,000 gross per month, plus millions of euro per year in the case of highly profitable companies, if they meet the performance criteria set in the contract, according to a bill.