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Rolling stock producer Remarul gets Bombardier exclusivity in the Balkans

After months of negotiations, the Cluj Napoca-based rolling stock manufacturer 'Remarul 16 Februarie' (Romania's center-northwest) succeeded in obtaining the exclusive right to manufacture and sell in five Balkan states - Romania included - trains produced under the Bombardier license, Bursa daily informs.

The contract between Remarul and the French company was signed in the middle of this week, after the Cluj Napoca-based company underwent one of the most drastic audits conducted by the producer of French transportation means.

So far, no details were given about the total value of the contract with Bombardier, but specialists in the industry hold it that just one train of the kind Remarul will produce could cost between 3 and 4 million euros.

'The partnership with Bombardier is highly important for Remarul, because it will allow the transfer of know-how to our company,' Adrian Timar, Remarul president and CEO, told the Bursa daily.

He mentioned that both sides were very interested in striking this partnership. 'Under this contract, we have exclusivity for the manufacturing and marketing of these self-powered units in six countries: Romania, Bulgaria, Greece, Croatia, Bosnia and Serbia,' the quoted source said.

Following the acquisition of the license for the manufacturing of the AGC-type (Autorail Grande Capacity) passenger train, 'Remarul 16 Februarie' is now setting a strategy in place for identifying potential clients. Only after that - says Adrian Timar - will the company decide how much to invest in technology and additional staff, writes Bursa.Remarul 16 Februarie (stock exchange ticker REFE) is listed on the Rasdaq segment, with a market capitalization of 36.18 million lei (8.76 million euros), corresponding to the price of 19.1 lei per share registered during the November 11 trading session.

Cluj Napoca Transferoviar Group owns 32.96 pct of 'Remarul' stake, and Monica Baiculescu controls 32 pct thereof.The company reported 1.9 million lei in mid-year net profit, down 22 pct from the same period of 2009.

Sursa: http://www.agerpres.ro

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