EnglishThe Management Board of former rubber parts manufacturer Rolast Pitesti proposed to the shareholders the contracting of a 5 million EUR loan in order to refinance current activities and pay company debt, according to a report to the Bucharest Stock Exchange.
Shareholders in Rolast Pitesti at the beginning of March decided to change the company"s main field of activity from manufacturing rubber parts to real estate leasing and fire all employees due to the comkpany"s failure to make profit.
For the first three quarters of 2006, the company posted a loss of 6,43 million RON (1,81 million EUR), up 27% from the corresponding period of 2005, when the company reported losses of 5,033 million RON. Rolast"s turnover declined by 13,8% in the first nine months of 2006, amounting to 39,300 million RON.
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