EnglishEquipment maker Comelf Bistriţa (CMF) will invest up to 2.8 million Euros in order to expand and modernize its production facilities, according to Mediafax.
Out of the total amount, EUR 800,000 will come from the company own resources, while the remaining amount will come from European grants, according to information sent to shareholders summoned for a Shareholders" meeting on April 14th.
The company"s turnover dropped 43.5% in 2009, to 71.05 million lei, and a profit of 332,300 lei, down from a net profit of 2 million lei in 2008. Almost 85% of the company"s output was exported.
The company"s main line of business is the manufacturing of equipment for environmental protection, for the energy industry, manufacturing of subsystems and assembly of earthwork equipment.
The majority shareholder of Comelf is the management, investment and development company Uzinsider Bucureşti, with a stake of 76.78%. The company"s shares are traded on the second tier of the Bucharest Stock Exchange.
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