Energopetrol establishes trader

Energopetrol Campina on Wednesday called a General Meeting of Shareholders to debate break-up plans. Energopetrol, which specialises in building electrical power networks for the oil and natural gas industry will break up into two entities, one of which will engage in trade with the raw materials used by the company – mainly laminated steel products and cables that are supposed to be supplied to other beneficiaries, as well. “The decision was made so that Energopetrol could focus on its core business. The new company will have a similar capital structure and a standalone activity,” Dan Mirica, company representative said. Energopetrol is nearly 50% held by its employees and is listed on the Bucharest Stock Exchange. ZF