The Bucharest Chemical Equipment Assembly Trust (TMUCB), a company with a history of over 60 years and one of the largest companies in the construction field, announced that it managed to recover after an eight-year insolvency period.

Since 1958, TMUCB has carried out complex turnkey technological projects for the chemical and petrochemical, metallurgical, cement, pulp and paper mills, thermal and nuclear power plants, sugar factories, car factories, tanks, transmission and distribution pipelines for petrochemicals, gas, water, steam, in Romania and abroad.

The company specializes in the design, manufacture, and assembly of technological machinery and equipment, storage tanks for gas stations, piping systems, and metal structures.

"We are happy with this achievement, especially since less than 5% of insolvent companies manage to reorganize because they resort to such procedures when they are in an advanced degree of difficulty and saving them is very difficult. During the reorganization, over RON 33 million were returned to the creditors," said Oana Munteanu, partner of CITR insolvency house that managed the process for the chemical equipment producer, Economica.net reported.

During the reorganization procedure, CITR managed the company's patrimony and paid debts to creditors amounting to RON 33 mln (EUR 6.6 mln).

TMUCB SA reported RON 5.9 mln turnover in 2021 and targets RON 15 mln for this year.

andrei@romania-insider.com

(Photo source: Tmucb.com)