Carbochim employees may sell

The over 430 employees of Carbochim Cluj-Napoca, one of the leading producers of abrasives in Romania, will divide 65.3% of the company”s shares among them after the Employees Association, the main shareholder of the company dissolved as a result of a the decision of the General Meeting of its members. The Association could not sell the shares because of certain obligations in the privatisation contract, but the employees will be able to do it once the Association is dissolved. French Saint Gobain group, which operates on the market of construction supplies, was reportedly interested in taking over the controlling interests in the professional abrasives manufacturer. “There may be a joint strategy of the employees for their shares but a takeover by Saint Gobain of the stake held by the Employee Association is out of the question,” says Viorel Popoviciu, the company”s general manager. ZF