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Gruia Stoica takes over rolling stock and 350 employees from Rompetrol

Autor: Mirabela Tiron

20.12.2010, 09:41 31

Businessman Gruia Stoica, who controls Grup Feroviar Român GFR),the biggest private railway operator on the Romanian market, a partof Grampet, took over the rolling stock and 350 employees ofRompetrol Logistics (RPL), a company held by KazMunaiGaz.

The value of the contract was not made public, but it is in therange of "hundreds of millions of euros," according to GruiaStoica, who did not wish to provide further details on thetransaction.

The carrier has this year signed another major contract on thesegment of fuel distribution with Russian-held Lukoil, with GFRclients also including OMV Petrom, ArcelorMittal, Conpet andCompania Naţională a Huilei (National Coal Company).

Rompetrol Logistics shareholders decided to outsource railwaytransportation services, which had a major contribution to abusiness that last year reached 48 million euros with 900employees, according to Finance Ministry data.

Rompetrol Logistics had a 750-rolling stock fleet, according tomarket information.

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