The oldest plant in Romania, with a tradition of over 250 years, has bankrupt, the Financial Supervisory Authority (ASF) already approving the withdrawal from trading and cancellation from its records.
The oldest plant in Romania, with a tradition of over 250 years, has been bankrupt
ASF recently announced “approval of withdrawal from trading and a the deletion of the ASF records of the shares issued by UCM Reșița SA., considering the opening of the bankruptcy procedure ”.
The Bucharest Court decided to open the bankruptcy procedure in general form against the Reșița car construction plant (UCM Reșița), according to a decision issued on April 1, 2025.
Last year, however, the actual business was taken over by Hidroelectrica, through the Construction Plant Hidroenergetice SRL, a company that has as a single Associate Hidroelectrica, as announced by the Euro Insol judicial administrator.
“The Euro Insol judicial administrator announces that, on March 11, 2024, the contract for the sale of the business of UCM Resita was signed to the Construction Plant Machine Hidroenergetice SRL, a company that has as its sole Associate Hidroelectrica SA procedure includes all assets, know How, contracts in progress, patents and licenses necessary to continue manufacturing services hydro -regrets and auxiliary equipment, to which are added a number of approximately 450 employees“, It is shown in the Euro Insol statement.
According to the quoted source, UCM Resita is the oldest industrial unit in Europe, founded in 1771 and which designed, manufactured and mounted over 90% of the hydroenergetic equipment in the exploitation of Hidroelectrica.
The sale took place as a result of a proposed reorganization plan, drafted and implemented by the judicial administrator, a plan that involved, among other things, a large reorganization of the activity of UCM Resita, including the management of the company by the judicial administrator.
The judicial administrator managed to maintain the company in the economic circuit for a period of about 13 years, the insolvency procedure being opened in 2011.
“This transaction represents the crowning of the efforts made by the judicial administrator together with the entire group within the UCM Resita during this difficult period of the insolvency that exceeded 13 years. Fortunately, the oldest industrial unit in Europe, emblematic for Romania and essential for the national energy system was saved. We thank all the employees of UCM Resita for the good collaboration. We also wish Hidroelectrica success in continuing the activity and developing the new company. Although such transactions are very few on the insolvency market in Romania, we are glad that Euro Insol coordinated such a proceduredemonstrating once again that we have the knowledge and experience necessary to run and save companies from various branches of the economy“, Said Adrian Munteanu, a coordinating practitioner within Euro Insol.
UCM Reșița – 254 years of activity
UCM Resita is located in the municipality of Resita in the southwestern part of Romania, on the Bârzava river valley. The plant started its activity on July 3, 1771, at which time two furnaces and forja were put into operation. The factory has a common history with the Reșița steel combination, which has been divided in 1962. Throughout its history, the company has produced a variety of products: steam locomotives, electric motors, cranes, petroleum machine, armament, air compressors, steam turbines, diesel engines, locomotive motors, hydraulic turbines and metallurgical equipment. Currently, the company produces: hydro -aggregates, turbines and generators, hydromechanical equipment, large hydraulic and valley, electric machines, spare parts for diesel engines, cloves, castings, forged parts and welded structures.
The company was set up in 1991, with the transformation of the former ICM Reșița state -owned enterprise, and in December 2003, APAPS sold the package of 60.79% of shares it owned to the Swiss company Ine AG and to the Employee Association[fortheamountof131millioneurosSinceSeptember182006themajorityshareholderofAGowns9639%ofthecompanyUCMReșițaislistedincategoryIIoftheBucharestStockExchangeIneTAGcompanyismanagedbythebusinessmanSwissdrunkCorpataauxassociatedwithBogdanBuzăianuinthecompanyEnergyHolding[pentrusumade131milioaneeuroDin18septembrie2006acționarulmajoritarINETAGdeține9639%dincompanieUCMReșițaestelistatălacategoriaII-aaBurseideValoriBucureștiCompaniaINETAGesteadministratădeomuldeafacerielvețianBeatCorpatauxasociatcuBogdanBuzăianuîncompaniaEnergyHolding
The plant extends over time, comprising other buildings within the city. At the beginning of the 21st century, its total area comprises 98 hectares, of which 68.7 hectares of industrial platforms and 25.5 hectares and halls covered.
