CFR Marfă

CFR Marfă is the state-owned freight railway business of Romania.[1]

CFR Marfă logo
CFR Marfă tank car

Formerly the freight division of Căile Ferate Române (CFR), it was separated in 1998 to become a semi-independent business.

In April 2013, under pressure from the IMF to reform the state sector,[2] the Romanian government offered to sell a 51% stake in CFR Marfă[3] In May 2013, three bids were received; from OmniTRAX, SC Grup Feroviar Român, and a partnership between Transferoviar Grup and Donau-Finanz.[4] The government rejected all three bids.[5] In September 2013, the 51% stake in CFR Marfă was sold to Grup Feroviar Român for €202 million, although complete payment would be deferred until the deal is approved by competition authorities.[6]

CFR Marfă is making heavy losses. In 2013, it expects to lose €47 million; it lost €20 million in 2012 on earnings of €288.8 million. It has not posted a profit since 2007.[7] As part of the privatisation, the Romanian government has allocated CFR Marfă 606 million lei (€137 million) of rail infrastructure debts.[8]

See also

References
  1. Jane's World Railways 2009-2010. p. 373. ISBN 978-0710629043.
  2. "Romania: reluctant state sell-offs restart with CFR Marfa". Financial Times. 5 April 2013. Retrieved 7 April 2013.
  3. "CFR Marfa privatisation bids invited". Railway Gazette International. Retrieved 8 April 2013.
  4. "CFR Marfa privatisation bids in". Railway Gazette International. Retrieved 11 May 2013.
  5. "All CFR Marfa privatisation bids rejected". Railway Gazette International. Retrieved 18 May 2013.
  6. "CFR Marfa sale agreement signed". Railway Gazette International. Retrieved 3 September 2013.
  7. "Romanian state-owned rail-freight company CFR Marfa expects to double losses in 2013". 19 March 2013. Archived from the original on 19 March 2013. Retrieved 7 April 2013.
  8. "CFR Marfă va prelua datorii la stat de 606 mil. lei de la CFR Infrastructură". Curierul Național. 16 March 2013. Retrieved 7 April 2013.
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