The plant, like the unique experimental chemical enterprise Izomer, reported by Logos Press, is categorized as “enterprises recommended for immediate privatization”. At the same time, it is noted that “state participation in a company in the process of insolvency, with moderate economic and financial indicators and having no strategic importance is not justified”.
An attempt was made in 2007
It should be noted that a similar attempt was made almost twenty years ago, during the premiership of Vasily Tarlev. Back then, according to him, the state, as a shareholder, did not receive dividends from the enterprise, and “the ownership structure of the enterprise was not favorable for making decisions that would have contributed to its development”.
Although after many years of stagnation the plant managed to restore production, even then the capacity was used within the range of only 25-30%.
The package does not allow to influence the company’s activities
Even today, the reasons cited are that the state does not own a controlling stake, which limits its influence on the company’s decision-making. The package is passive and does not allow to control the company’s activities. And its privatization, as noted in the explanatory note to the draft prepared by the Public Property Agency, “will reduce financial risks and facilitate the attraction of private capital”.
The plant specializes in equipment for vegetable oil production, canning industry and rapeseed processing. However, it is currently in the process of insolvency. According to 2024 data, the value of its assets is about 30 million lei, of which about 56% are fixed assets, including buildings and structures with a book value of about 11.5 million lei. The debt to the budget reaches about 4.3 million lei, while the authorized capital is 24.3 million lei.
The cumulative net undistributed loss recorded at the end of 2024 amounted to about MDL 32.4 million. Although the company recorded a positive financial result of about 600 thousand lei in the period 2022-2024, the efficiency of asset utilization remains low, with a return on assets of about 1-2%, well below the minimum recommended level.
