"Romcab" Târgu Mureş plans to expand, using an investment program of 49.5 million lei which its shareholders approved this week. The expansion program will be partially financed using structural funds.
The company"s contribution to the eligible expenses will be 21.37 million lei, and on top of that it will bear ineligible expenses of 8.13 million lei and related expenses (VAT) amounting to 9.14 million lei, a press release by the company states.
Romcab recently announced it exited the judicial reorganization procedure. the procedure had begun in autumn 2004, due to a debt incurred by one of the companies controlled by of Paneuro, the company"s former majority shareholder. At the time, "Romcab" had guaranteed a loan of several million dollars which Paneuro had taken from Raiffeisen Bank and which it was unable to pay back. The special administrator has been revoked, and the company will be managed by a board of directors, chaired by Zoltan Prosszer, who controls "Romcab", by way of auto parts and accessories supplier Sadalbari, which owns 69% of Romcab, whereas 22.95% are held by Citibank Nominee.
Ovidiu VRÂNCEANU (Translated by Cosmin Ghidoveanu) "Romcab" Târgu Mureş plans to expand, using an investment program of 49.5 million lei which its shareholders approved this week. The expansion program will be partially financed using structural funds.
The company"s contribution to the eligible expenses will be 21.37 million lei, and on top of that it will bear ineligible expenses of 8.13 million lei and related expenses (VAT) amounting to 9.14 million lei, a press release by the company states.
Romcab recently announced it exited the judicial reorganization procedure. the procedure had begun in autumn 2004, due to a debt incurred by one of the companies controlled by of Paneuro, the company"s former majority shareholder. At the time, "Romcab"
