S.C. Condmag S.A. Reports Earnings Results for the Full Year Ended December 31, 2020

Condmag SA is a Romania-based company primarily engaged in the construction of pipelines. The Company is active in the construction of pipes and installations for natural gas, crude oil, petroleum products, water, sewage and other liquids. Additionally, the Company is involved in pipe insulation services; construction of gas treatment plants, gas compression stations, pumping stations, oil storage facilities, gas measuring and regulating stations; plumbing and central heating installation works, and provision of engineering projects of pipelines and other installations. As of December 31, 2011, the Company had two subsidiaries: Timgaz SA, which is involved in the provision and distribution of natural gas, and Flowtex Technology SA, which is engaged in provision of horizontal directional drilling services. It field for insolvency within the Brasov Court.