1. DIRECŢIA CONTROL, ANALIZĂ, STRATEGIE
Str. Cpt. Av. Alex. Şerbănescu nr. 50 Bucureşti, România
Tel Fax:

2. Company Description
Technological process manufacturing enterprise integrated FORTUS is a manufacturer of heavy technological equipment with integrated mechanical-metallurgical structure has the following manufacturing sectors:
- the primary sector includes electric steelworks, modeling, steel and iron foundries and forging stations;
-sector fully equipped for welding mechanical welded steel assemblies execution;
-machining sector including three sections equipped with machine tools and equipment that can provide processing, assembling and testing more complex equipments;
-the heat treatment and electroplating sector.

3. Company Juridical Situation
The juridical situation of company
Commercial and Administrative Litigation Division of Iasi Court by the No.110/S/ Commercial Sentence has ordered the opening of insolvency proceedings against the debtor SC "FORTUS" SA Iasi.
The Judicial authority involved in insolvency proceedings is Mures Commercial Bankruptcy Court.
Currently, the company is in the observation period.
Management of the company - Board of Directors
By the conclusion no.299/ , the Iasi Court Commercial and Administrative Litigation Division – Syndic Judge confirms S.C. FORTUS S.A. Iasi administration board duties termination, according art. 47, item 1 from the Law no. 85/2006, regarding the insolvency procedure.

4. S.C. METALEXPORTIMPORT S.A. Bucureşti
Capital Structure
Social capital and ownership structure
Shareholder
Number of shares
Social
capital
- lei -
Share in
- % -
A.V.A.S. Bucureşti
60,0297
S.C. METALEXPORTIMPORT S.A. Bucureşti
26,2315
S.I.F. MOLDOVA
13,5646
Individuals
63.732
0,1677
Legal persons
2.467
6.167
0,0065
Total
100,0000
Nominal value of shares is 2,50 lei.

5. Participation of other companies in the capital of S. C. FORTUS S. A
Participation of other companies in the capital of S.C. FORTUS S.A. Iaşi
Nr.
crt.
Company name
Accounting value %
Value - lei 1.
SC METALEXPORTIMPORT SA Bucureşti
26,231518 2.
S.C. TGH INVESTMENT S.A. Iaşi
0,006942
6.167
Unique code of registration

6. Share in industry branch
SC FORTUS SA IASI, is currently the last representative unit integrated automotive industry in Romania which has manufacturing capacity in operation to carry equipment, subassemblies and spare parts for steel, metallurgy, Shipbuilding, cement, chemistry and petrochemistry, environment, food, irrigation , mining, energy and construction machinery.

7. Personnel structure and internal organization of company
Organizational structure include a number of 720 employees, which are:
- direct staff productive: 371
- indirectly productive staff: 349, which are:
- workers:
- administrative: 183

8. Current physical condition of major equipment and technological equipment
Equipments & Buildings
Existing
-buc-
Current technical condition
Functional
Require revisions & repairs
1. Electric ovens for elaboration and maintain 9 3 6
2. Heating and treatment furnaces 64 27 37
3. Forging and stamping hammer
4. Instalaţii de debitat table şi profile 22 17 5
5. Welding plant 91 72 19
6. Pressing plant 4 2
7. Parallel lathes with D<1250 mm 49 12
8. Parallel lathes with D>1250 mm 15 13
9. Vertical lathes with D<5000
10. Vertical lathes with D>5000
11. Reaming and milling machines with D>150 mm 11
12. Reaming and milling machines with <5000 16 8
13. Other machines tools
180
114 66
14. Roller bridge
128 58 70
15. Oxygen factory -
16. Termal power station 1
17. Compressor station

9. Analysis of asset development
Nr. Crt.
Asset items
Asset on: 1.
FIXED ASSETS
Lei
Lei 2.
CURRENT ASSETS
Lei
Lei 3.
REGULARIZATION
ACOUNT
Lei
Lei
TOTAL ASSET
Lei
Lei

10. Estimated market value of assets:(May 2012)
Grand Total: I + II + III = Euro -> Lei
I. Excess assets
Buildings
Area
(mp)
Floorspace
Estimated market value. Buildings
Estimated market value
Field
Euro
Lei
,20
,02
II. Functional Assets
Buildings
Area
(mp)
Floorspace
Estimated market value.
Estimated market value
Field
Euro
Lei
III. Total fixed assets = Euro -> Lei

11. Debt situation registered in lenders group
Nr. Crt.
Type of Debt
Number of registered debts
Value of debts included in the final table
-lei 1
Secured debts 5
,92 2
Delayed salary payments 6
,67 3
Budgetary debts
19.684,80 4
Senior unsecured debts
,32
Unsecured debts 66
,14
Other unsecured debts
,64
Total Debts
126
,49

12. Debt situation on 30.04.2012 Total: 363.084.266,13 Lei of which:
,49 Lei – debts registered at the list of creditors
,37 Lei – obligations older than not listed in the list of creditors
, 27 Lei – accumulated debts during the observation period
Of the ,49 Lei, debts to:
ANAF: ,00 Lei representing 71%
AVAS: ,16 Lei representing 8,59 %
Total ANAF + AVAS = ,16 Lei – 79,59%
According Government Decision 367/2012

13. Income and expenses structure in the first 3 years after the reorganization plan started
Nr. Crt.
Indicator
Total 3 years
(lei)
Of which:
Year 1
Year 2
Year 3 1.
Operating incomes 2.
Operating costs 3.
Operating result

14. Financing program for efficient production activity on short term ( 9 months)
Costs:
The analysis is done at a rate of 4,55 lei / euro.
Repair and rehabilitation program of production capacity for functional flow to carry on short term production and preparations for winter:
Euro (once paid) -> RON
Working capital required for the purchase of raw materials and utilities with a rate of £ 39,301,340 for a period of 9 months:
Phased payment of outstanding payments for a period of 9 months:
Euro ( RON) phased on 9 months -> Euro -> RON
TOTAL: RON RON RON = RON

15. Proposed funding sources
The analysis is done at a rate of 4,55 lei / euro.
Financial resource needed for working capital will generate a production of approximately RON for a period of 9 months in the first instance.
Use of company’s scrap iron for electric steelworks production flow, quantity available, approximately 800 tonnes:
800 tonnes * 220 Euro -> Euro -> RON
We offer for recovery 30 ha * 15 Euro / mp Euro -> ( RON)
TOTAL: RON RON RON = RON

16. Conclusions Gross profit on 9 months:
Income (including land recovery) – Expenses ->
RON – RON = RON

17. Elements which planned level indicators
1.Average exchange lei/Euro
4,5
2.Selling prices  
Steel castings
3,5 Eur/Kg
Forgings
2,5 Eur/Kg
Welded constructions
1,5 Eur/Kg
3. Share selection
Year 1 – Trim I și II
60%
30%
10%
Trim. III
55%
35%
Trim. IV
50%
40%
4. Conversion factors
-ingots cast / molded finished parts
1.4000
- Forged ingots / piece finite forged
-casting liquid steel / cast ingots 1,85*1,020
1.8870
- Ligou liqued steel / forged piece 1,80*1,064
1.9152
5. Expenses share
-material costs
38%
-energy costs
Year – Quarter I și II
27%
Year – Quarter III
25%
Year – Quarter IV
24%

18. Planned merchandise production
U.M.
Total Year 1
Total Quarter 1
Of Which:
Total Quarter 2
Of which:
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Lei
55,000,000
7,500,000
2,000,000
2,500,000
3,000,000
11,500,000
3,500,000
4,0000,000
4,000,000
Euro
12,222,222
1,666,667
444,444
555,5556
666,667
2,555,556
777,778
888,889
Total Quarter 3
Of which:
Total Quarter 4
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
15,000,000
4,500,000
5,000,000
5,500,000
21,000,000
6,000,000
7,000,000
8,000,000
3,333,333
1,000,000
1,111,111
1,222,222
4,666,667
1,333,333
1,555,556
1,777,778

19. Planned merchandise production by type
Nr crt.
Type
U.M.
Total year I
Total quarter.I
Of which
Total Quarter II
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6 1
Steel castings
LEI
30,150,000
4,500,000
1,200,000
1,500,000
1,800,000
6,900,000
2,100,000
2,400,000
EUR
6,700,000
1,000,000
266,667
333,333
400,000
1,533,333
466,667
533,333 2
Forgings
19,350,000
2,250,000
600,000
750,000
900,000
3,450,000
1,050,000
4,300,000
500,000
133,333
166,667
200,000
766,667
233,333 3
Welded constructions
5,500,000
250,000
300,000
1,150,000
350,000
1,222,222
44,444
55,556
66,667
255,556
77,778
88,889
TOTAL MERCHANDISE PRODUCTION
55,000,000
7,500,000
2,000,000
2,500,000
3,000,000
11,500,000
3,500,000
4,000,000
12,222,222
1,666,667
444,444
555,556
666,667
2,555,556
777,778
888,889
lei
Total Quarter III
Of which
Total Quarter IV
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
8,250,000
2,475,000
2,750,000
3,025,000
10,500,000
3,000,000
3,500,000
4,000,000
1,833,333
550,000
611,111
672,222
2,333,333
666,667
777,778
888,889
5,250,000
1,575,000
1,750,000
1,925,000
8,400,000
2,400,000
2,800,000
3,200,000
1,166,667
350,000
388,889
427,778
1,866,667
533,333
622,222
711,111
1,500,000
450,000
500,000
2,100,000
600,000
700,000
800,000
333,333
100,000
111,111
122,222
466,667
133,333
155,556
177,778
15,000,000
4,500,000
5,000,000
5,500,000
21,000,000
6,000,000
7,000,000
8,000,000
3,333,333
1,000,000
1,111,111
1,222,222
4,666,667
1,333,333
1,555,556
1,777,778