UCM Resita makes profit in spite of debts

Diesel engine maker Uzina Constructoare de Masini (Machine Building Plant – UCM) Resita concluded 2002 with 31.4bn ROL ($0.9 million) in gross profit, in spite of its unpaid debts worth 1,439bn ROL ($43.6 million). Most of this amount accounts for debts to the social security budget, as shown in UCM Resita’s nine-month balance sheet. It had posted 22bn ROL ($0.8 million) net profit in 2001. Total revenues reached 1,000bn ROL ($30.3 million) last year, compared with 725bn ROL ($24.9 million) in 2001. The main products of the company are Diesel engines for railroad traction, naval and fluvial propulsion, generators, hydraulic turbines and hydrogenerators, air piston compressors, large and special electrical motors. ZF