17.02.2015

Press release: The football matches on the National Arena scheduled for 2015 could be cancelled if the Bucharest City Hall does not meet the contractual obligations to its service providers

UTI Grup could suspend its administration as well as technical and current maintenance services for the National Arena due to the failure of the City Hall to observe its contractual obligations and to make the payments for the services provided by UTI during November 2014 – February 2015.

The quantum of the debt to UTI Grup is currently Ron 3,460,217.30, of which Ron 2,552,748.28 is more than 64 days late since maturity.

From the beginning of the collaboration until now, UTI GRUP has met its contractual obligations, ensuring the optimal operation of the technical appliances in the National Arena, during daily operations and special events alike. In these conditions, according to company representatives, failure to make payments is unjustified, and this situation harms the proper unfolding of the maintenance and administration of the largest stadium in Romania, and the maintenance of equipment to contractual standards of quality. Considering the consecutive failure to pay invoices, the maintenance of an optimal level of operation of all appliances servicing the National Arena and especially of those that ensure turf growth, for which an Eur 900,000 investment was needed, will be impossible, and the quality of the turf will be affected.

UTI Grup has already sent a formal notice to the Bucharest City Hall on February 6, requesting the payment of the outstanding debt. If the situation does not change as soon as possible, the company reserves the right to recover its money by any legal means.

Since the beginning of July 2014, UTI Grup has been the supplier of technical services for exploitation, current maintenance and administration for the National Arena of Bucharest. The agreement was awarded by open tender by the Bucharest City Hall, the owner of the building, for a period of four years. According to the frame agreement, the two parties involved will sign a subsequent contract for each year of collaboration. In September 2014, UTI Grup performed the modernization of the playing area on the National Arena before the Romania – Hungary game, in the preliminary stages of the European Championship in 2016, which has contributed to the improvement of the stadium’s image and to its alignment with great international stadiums all over the world.