CFR MarfÃÂ is the state-owned freight railway business of Romania.
Formerly the freight division of CÃÂile Ferate Române (CFR), it was separated in 1998 to become a semi-independent business.
In April 2013, under pressure from the IMF to reform the state sector, the Romanian government offered to sell a 51% stake in CFR MarfàIn May 2013, three bids were received; from OmniTRAX, SC Grup Feroviar Român, and a partnership between Transferoviar Grup and Donau-Finanz. The government rejected all three bids. In September 2013, the 51% stake in CFR Marfàwas sold to Grup Feroviar Român for â¬202 million, although complete payment would be deferred until the deal is approved by competition authorities. The deal was never consummated and the company remains completely state owned.
CFR Marfàis making heavy losses. In 2013, it expects to lose â¬47 million; it lost â¬20 million in 2012 on earnings of â¬288.8 million. It has not posted a profit since 2007. As part of the privatisation, the Romanian government has allocated CFR Marfà606 million lei (â¬137 million) of rail infrastructure debts. In 2023, the company earned â¬157 million, while debts totaled â¬910 million.
In light of CFR MarfÃÂâÂÂs dire financial position, the Romanian government has announced plans to liquidate the company and replace it with a new entity, Carpatica Feroviar. The new entity should take over CFR MarfÃÂâÂÂs role in the Romanian freight rail sector in March 2025.