EnglishMeasurement and tuning equipment manufacturer Automatica - Bucharest (RASDAQ:AUTT) will buy a building for up to 4 million EUR in an industrial area to relocate business, according to an announcement released on Wednesday. The shareholders convened and elected the Board, comprised of Loizos Karageorges, Livia Mohirta, Ion Homis, Mihai Nenciulescu and Karagiorgios Alexandros.
Automatica reported a preliminary net profit of 58 million RON (17 million EUR) for 2006, nearly 55 times than in 2005, when the sum only reached 1.06 million RON. The very significant profit was derived from the sale of an asset located in Floreasca, Bucharest. Last year"s turnover was 17.25 million RON, down by 35% from the previous year, when Automatica"s business reached 26.6 million RON.
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