Romanian Mefin Sinaia Extends Furlough For 89 Employees

The rest of the company’s 354 employees will have a normal working schedule.

Around 150 employees with Mefin Sinaia were on technical unemployment in July, on lack of orders. The company had sent all its 508 employees on technical unemployment between June 2 and July 1.

 Mefin estimates for 2009 losses worth 4.95 million lei (EUR1= RON4.2012), from a RON165,000 gross profit in 2008. The company also sees 31% lower revenues in 2009 at RON22.2 million, and 15% lower expenses, at RON27.17 million.

Mefin Sinaia has a share capital of RON13.2 million split into 5.29 million shares with a face value of RON2.5.

According to the latest data, the company is majority owned by Cyprus-based DCI Walbridge Partners, part of US Walbridge Aldinger, with a 79.6% stake.

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