UPRUC-CTR Continues Investments

Horia Enciu, General Manager of UPRUC-CTR, talks about investments, modernization, and the most important projects of the company in 2020.

 

How was 2020 for UPRUC-CTR SA?

Horia Enciu: An atypical year, with unexpected and unprecedented events, in which we had to adapt very often to ever-changing conditions. However, we decided not to stop investments, to continue at a steady pace and prepare for the post-pandemic period.

The colleagues from UPRUC-CTR understood that it is an exceptional situation in which we must mobilize, and they managed to keep the level of production and sales at a level which, although below the budgeted one, was satisfactory for a year marked by the pandemic.

Both the market of fittings and pressure vessels had a setback in 2020, as the economic crisis overlapped the oil crisis, due to the low oil price. Crises so far have always been desynchronized, and the fact that we also faced a health crisis is also a novelty.

 

You said you did not reduce the level of investments despite the uncertain economic situation.

Horia Enciu: On the contrary! We decided to “press the pedal” even harder and we had a volume of investments and repairs at the level of 2018 and 2019 taken together. We purchased overhead cranes, plate rolling machines, vertical lathe, an automatic saw, laboratory equipment, tools for but weld fitting production, we rebuilt the floors and the roof, we repaired and modernized ovens, we changed the hall windows, we arranged new production spaces and offices etc. Investments and repairs worth almost EUR 800,000 were made from own funds, without resorting to bank loans or other financing schemes and involved both the colleagues from maintenance and many collaborators.

Did UPRUC-CTR SA resort to any of the support forms provided by the Government during the pandemic?

Horia Enciu: No! In conditions in which UPRUC-CTR SA has no loan, it did not resort to any form of aid from the state during the pandemic and did not decide to finance itself by deferring the payment of taxes and duties owed. We also decided to behave this way because we understand that the state has a massive need for financing, and we chose to do our duty in this way too.

 

What was the most important project in 2020?

Horia Enciu: An important project was the arrangement of the second half of the pressure vessels, through which we will double both the production area and that of the administrative building.

An important project that will continue in 2021 is the extended use of induction which will bring us an essential competitive advantage. We work closely with the local partners, who still have the know-how for this technology and with which we are convinced that we will manage to have a successful implementation.

 

How did the profile of UPRUC-CTR client change lately?

Horia Enciu: The economic crisis that started in 2020 was a black swan. Our clients were faced with uncertainty, which led to the reduction or stoppage of investments. On top of that, the low oil price determined our clients not to be able to estimate the needs and ordered one day for the next. We had to find quickly other customers and with the help of their orders we reached a reasonable turnover, even if below that budgeted for this year. Therefore, we had less work for the oil industry and more for the gas industry.

An end message?

Horia Enciu: I wish all collaborators inspiration to learn from the period we went through the most possible to help them resettle their businesses and careers for the years to come!

I thank my colleagues from UPRUC-CTR SA for their effort in 2020 and I wish them good health and strength in their work in 2021!