BUCHAREST (Romania), November 19 (SeeNews) – Romanian rolling stock maker Remar said on Thursday it signed a 40.7 million lei ($14.1 million/9.5 million euro) deal to upgrade nine passenger railway cars, property of state-owned passenger railway carrier CFR Calatori.
Further details were unavailable.
Earlier this year, Remar won a 700 million lei contract to upgrade 400 railway cars and in the fall of 2008 it closed a 278 million lei deal for upgrading 113 railway cars, Raiffeisen Capital & Investment (RCI) said in a note to investors.
“Despite the significant value of the contracts signed, over the first three quarters of 2009 the company's turnover fell by 9.0% on the year to 52.5 million lei and the net profit came in at 200,000 lei, compared with 7.0 million lei for the first nine months of 2008,” RCI added.
Remar (www.remar.ro) is based in Pascani, northeastern Romania. The company is 88.83%-owned by Romanian railway cargo carrier Grup Feroviar Roman.
Remar’s stock, listed on the over-the-counter market RASDAQ, last traded 1.53% up at 6.65 lei by 0852 GMT on Thursday.
(1 euro = 4.2787 Romanian lei)