Romanian Postal Co. Posta Romana Opens 6 Offices In Spain

“This is a very important event for us, particularly since we are the first Romanian company with majority stake in state hands that crosses the border. Opening post offices in Spain was a natural thing to do, due to the high number of Romanians who live and work in this country,” Toader told a press conference in Valencia.

Posta Romana opened offices in Valencia, Madrid, Barcelona, Malaga, Castellon and Coslada, Toader said.

He said the post offices in Spain will have the same tariffs as the ones in Romania and estimated investment costs would be recovered by the end of this year.

Posta Romana is set to open two more offices outside Romania, in Italian cities of Firenze and Prato, Toader mentioned.

“We consider other countries as well, such as Germany, where we will open one or more post offices next year,” the company official said.

Posta Romana has over 7,100 offices in Romania and employees some 35,000 workers.

The company reported turnover of 693.99 million lei (EUR1=RON 3.8249) in the first half of 2008, up 44.7% on the year.

The company also reported a gross profit of RON79.62 million, almost triple from RON27.75 million in the corresponding period a year earlier.

Romania’s Ministry of Communications owns 75% in the postal company, while investment fund Fondul Proprietatea owns the remaining 25% stake.

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