Romania’s CFR Marfa Sale No Longer Opportune Due To Losses - Transport Min

Privatization of Romanian rail freight company CFR Marfa is no longer suitable, as the company switched to losses, and the top priority is now redressing the state-owned company's financial situation, Transport and Infrastructure Minister Radu Berceanu said Thursday.

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"The privatization of CFR Marfa was one of my top projects when the company was profitable. Now, we first have to revive the company’s financial situation and afterwards think about selling it. It is not a good moment to put it up for sale, when the market is low and I will receive poor offers," Berceanu said in a press conference.

According to him, the company reported a profit of 13 million lei (EUR1=RON4.2942) in 2007, but switched to RON14 million losses last year.

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