Vulcan wins EUR 6 mln contract in Irak

Vulcan, currently insolvent, won a EUR 5.8 million contract in Irak for delivering two cooling boilers for a power plan. According to Remus Borza, administrator for Vulcan, the energy equipment producer received orders of EUR 15 million this year, but it will incur losses.

“The contract has delivery term of one year. The power plant belongs to the state, everything belongs to the state in Irak”, according to Remus Borza.

Vulcan is the biggest supplier of pumping units from Europe and one of the leading supplier worldwide.

Vulcan SA applied to the general procedure of insolvency of the debtor Vulcan SA, according to a resolution passed by the Bucharest Court – Civil Division VII on 21.05.2013 in case no. 18754/3/2013.

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