The PNL Dâmboviţa deputy, Gabriel Plăiaşu declared on Thursday, in a press conference, in the context of the bankruptcy for the Special Steel Plant (COS) Târgovişte, that the fault lies with the Ministry of Economy.
“In a desperate attempt to solve the problem, somewhere at the beginning of the year, we went to the plant together with a delegation, to see on the spot if those people were ready to resume production. What I’m telling you now is sad, but true: the oven that one is ready, it is completely revitalized, modernized and the production can start tomorrow.They were ready to start the activity on January 1st with a guaranteed market, because they need what COS Târgovişte was producing.I saw with my own eyes that oven “It is, unfortunately, sad,” said Plăiaşu.
He claims that the Minister of Economy, Claudiu Năsui (USR), could make a decision to save the plant.
“Minister Năsui’s vision that he will sell this asset to a private company, that he does not want to come to nationalize COS Târgovişte, is a bad one, from my point of view. I asked a question, in my capacity as deputy, to the minister and I received an answer, in the sense of what I am telling you: to be patient that we are privatizing. Here that no one came in. And I tell you that according to the model of Oltchim Râmnicu Vâlcea, , had what the state sold further, after putting it to profit again. The same could be done at COS Târgovişte A takeover of the debt on behalf of the Romanian state, we revitalized the activity there and the state could after 3-4 years, after it brought the respective area to profit, to make some good money from the state budget. Unfortunately, I missed this moment. I repeat, the fault lies with the Ministry of Economy “, said the PNL deputy Gabriel Plăiaşu.
The Dâmboviţa Court decided on June 30 the bankruptcy of COS Târgovişte.
The rulers had a plan to save the plant, but it was not put into practice. In November 2020, in a public meeting in front of the Dâmboviţa Prefecture, where the then Prime Minister Ludovic Orban was present, the Minister of Economy, Virgil Popescu, announced the rescue plan of the plant, by taking over the COS assets on account of debts .
From the beginning of 2020, COS Târgovişte had stopped the production activity. In previous years, several halls within the plant were demolished. From over 20,000 employees of the plant during the communist period, in the last years of production their number reached about 1,000.
In February 2013, the request for reorganization was admitted for COS Târgovişte and the general insolvency procedure was opened.
At the Bucharest Stock Exchange, the suspension from trading of the shares of COS Târgovişte is announced, the decision of the Dâmboviţa Tribunal from June 30 is published and the shareholding structure of the plant is presented: Mazut Investments Limited loc. Nicosia CYP 86.60%, the Romanian state through the Authority for the Administration of State Assets 4.04%, other shareholders 9.35%.
The Special Steel Plant (COS) Târgovişte entered the bankruptcy procedure, following the decision of the Dâmboviţa Court of June 30, the plant having stopped the production activity from the beginning of 2020.
In the last years of production, the number of employees at COS Targoviste was about 1,000, compared to over 20,000 during the communist period.
“Rejects the request for confirmation of the amended and completed reorganization plan, proposed by the creditor company Alphard Financial Corp. Rejects the exception of inadmissibility of the bankruptcy application, request made by the creditor SC Distribuţie Energie Electrică România SA. Pursuant to art. 107 para. 1 letter C of Law No. 85/2006, regarding the insolvency procedure, orders the beginning of the bankruptcy procedure of the debtor COS Târgovişte SA “, it is shown in the interim decision of the Dâmboviţa Tribunal from June 30.
The Târgovişte Special Steel Plant has been in insolvency proceedings since February 2013.
“There is no point in cutting back on scrap metal and recovering as much debt to the state budget as possible from it, which is why Ordinance 60, which was published last night in the Official Gazette (…) will be applied to COS Târgovişte, the industrial functional asset, as a whole, will be taken over on account of the debts it has to ANAF. (…), analyzes have been made and I tell you that in a very short time the reorganization plan will be modified in so that the functional industrial asset can be taken over “, said, at that time, the Minister of Economy, Virgil Popescu.
According to the plant’s website, the management of COS is provided by a special administrator: Oleg Shvedakov, judicial administrator of Maestro SPRL – Bucharest Branch, and the executive management by Vladimir Gofman, general manager.
The trade unionists from COS Târgovişte say that the day the bankruptcy was triggered is a sad one for the whole city.
“Sad day for Târgovişte and for Romania …. Today, June 30, 2021, the Dâmboviţa Court decided to dissolve COS Târgovişte and open bankruptcy proceedings. Even at this moment, the state can intervene and save this plant … if politicians understand that it is in Romania’s interest not to lose this metallurgical plant by dismantling it! “, it is shown in a post on the facebook page of the Wallachia Union, led by Nicolae Dragodănescu.
Throughout the years 2020 and 2021, COS Târgovişte had its production activity stopped. In previous years, several halls within the plant were demolished.
In February 2013, the request for reorganization was accepted for Mechel Târgovişte and the general insolvency procedure was opened. This is after, also in February 2013, the information was made public that Mechel sold all its assets held in Romania, for approximately 70 dollars (230 lei), to the company Nikarom SRL. Also in 2013, Mechel announced that, in Târgovişte, the name of the Special Steel Plant will be returned.