E.ON Romania, part of German utility group E.ON, announced Monday it has completed the merger of its two distribution firms into the first integrated gas and electricity distribution company on the Romanian market, writes Mediafax.
E.ON Distribuţie România began its activity on January 1. The merger started in 2009 and implied the absorption of E.ON Moldova Distributie by E.ON Gaz Distributie.
“The two companies’ merger was a natural process that spurred a reorganization intra-group procedure with the final objective of increasing long-term efficiency as a result of expense optimization”, according to Frank Hajdinjak, E.ON Romania GM.
E.ON Distributie Romania operates a 20,000 km distribution network for natural gas, as well as a 80,000 km network for electricity which serves 3 million clients, covering counties in the northern half of Romania.
E.ON added that the new company will set aside “considerable amounts of money” for network expansion and upgrades. Since coming to Romania, E.ON has invested over EUR 1,2 million.