The Schiel paper manufactory was formed in 1882 and started the industrial development of the area. They brought the first electric locomotive to the works in 1899. This company was formed in 1904 and a new funicular railway was built up the slope of the Bucegi Mountains. The whole complex was nationalised in 1948.
Capital in 1937 300,000,000 lei in shares of 1000 lei. Only certificates of 10 shares and 100 shares were issued.