Electroaparataj anticipates over 2m-euro relocation costs

Bucharest-based electrical equipment producer Electroaparataj, estimates personnel relocation costs to exceed 2 million euros, following the division of the company. The relocation costs are four times higher than the profit recorded by the company in the first nine months of the year. The break-up of Electroaparataj led to the creation of several companies ELJ Prelucrari Plastice SRL in Titu, ELJ Matrite SRL, ELK Mentenanta, ELJ Prelucrari Metale SRL and ELJ Servicii Plastice SRL, in which Electroaparataj holds the majority stake. At the end of September, Electroaparataj made over half of its employees redundant, keeping 818 people out of the 1722 at the end of last year. However, the average number of employees over the first nine months of the year rose about 7% compared to figures in 2005, to 1,500.