Italian businessman wants to revive the legendary Romanian Orex brand watches

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Mecanica Fina Bucuresti (MECE) decided at the beginning of this year to enter Bucharest Stock Exchange (BVB) Main Market. Thus, starting this Wednesday, the Romanian company will debut on BVB, in the Standard category, after the transfer from the Rasdaq market, a press release informs.

Mecanica Fina shareholders approved at the end of July 2015 that the company will participate with at least 50 percent to the capital of a new company that will relaunch the Romanian Orex brand watches. Mecanica Fina produced Orex brand watches between the ‘70s and ’90s.

More than 91 percent of Mecanica Fina shares are owned by the company Mol Invest Bucuresti. The Italian businessman Sergio Mollo owns more than 99.98 percent of Mol Invest Bucuresti.

In 2009 Mecanica Fina closed its production of measuring equipment and concentrated on the real estate market, by renting its owned buildings. Almost 77 percent of the turnover registered in 2014, of RON 5.5 million (EUR 1.2 million), was generated by the revenues from rentals. The turnover in 2014 was 17 percent higher than the one in 2013.

Mecanica Fina has a market capitalization of RON 31.5 million (EUR 7.1 million), according to the price of the most recent trade on the Rasdaq market, of RON 8.5/share, on August 7, 2015.

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