EnglishRichter Gedeon Vegyeszeti Rt, the largest Hungarian drug maker, will loan its Romanian subsidiary, Gedeon Richter Romania, 22.8 million EUR. The company will use the money to finance its investment program for 2007. The loan contract is valid from 2007 to 2014, the interest rate being 4.3% per year.
Richter will increse its Romanian subsidiary"s share capital by 65 million RON (19.93 million EUR). Presently, Gedeon Richter Romania has a share capital of 48.5 million RON. The company reported revenues of 4.28 million RON for the first quarter of this year, up 12.2% from the same period last year.
Gedeon Richter started production in Romania in 1998, when the Hungarian company bought the Armedica factory in Targu - Mures. In September 2003, the group and its subsidiary merged into Gedeon Richter Romania SA.
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