Drugmaker Terapia Ranbaxy, held by Indian group Ranbaxy, is
putting a 9-hectare plot in Cluj up for sale and has received
several offers from retailers, with another similar plot being
considered by the shareholders for building a new plant.
The company’s intention is older, but only recently has it managed
to decontaminate the land, which cost it 3 million RON, an amount
the management is hoping to recoup from the sales.
The price of land in Cluj ranges between 150 and 200 euros per
square metre, according to data of local real estate agencies. At
an average price of 180 euros, Terapia’s plot could be put at 16.2
million euros.
Dragos Damian, the company’s general manager, specified the 9
hectares are in excess and that even if there will be expansion
plans, they will not involve a plot larger than one hectare. In
addition to the 9 hectares of land put up for sale, the company
holds another similar plot.
“For the next five years there are plans of transferring technology
(moving production to Romania i.e.) which, if fulfilled, could
entail building a new production facility. It remains to be seen if
these optimistic plans will come true,” said Damian.
He did not wish to specify what the development plan amounted to,
only saying the decision to invest in a production facility is
strictly dependent on this plan, which, in its current form, could
entail the building of a production facility, for which Cluj could
be in the cards.
NBR sets its sights on bankers’ salaries: payments of above 1m
euros, to be reported
Liviu Chiru, Adelina Mihai
The National Bank is to collect information on payments of above
1m euros made by banks, which it will report further to the
Committee of European Banking Supervisors.
The modifications, included in a law modifying Ordinance 99/2006,
regulating banks’ operations, come amid the rising pressures
internationally to review banker compensation system.
The outlook of some fat bonuses related to their achieving some
highly ambitious targets on the short term have made bankers take
on too high risks in the past years, which eventually led to the
financial crisis of 2007-2008. Moreover, banks further granted high
bonuses during crisis years, though many of them had asked for the
state’s support or were even nationalised to be saved from
bankruptcy, thus stirring taxpayers’ anger.
At present, the fixed monthly salary a boss of a top five bank
domestically stands at 40,000 euros net, to which the annual bonus
is added, which in a multinational can account for even 100% of the
annual salary. Thus, annual incomes are likely to climb above the
1m-euro per year threshold in top banks.