English
Metal structures manufacturer Armax Gaz SA Medias, listed on Rasdaq, plans to expand its activities to Russian and Middle East markets in 2008-2010, according to CEO Mircea Vescan, quoted by NewsIn. The company intends to open an economic expansion centre within the Romanian Embassy in Moscow, followed by an office in Russia.
Armax Gaz concluded 2006 with turnover of 44,71 million RON, up 17,4% from 38,06 million RON a year earlier. The company expects net profit to reach 5,4 million RON this year, while turnover is estimated at 60 million RON. For 2007, Armax Gaz budgeted investments of 1,9 million RON.
In February, shareholders in Armax Gaz operated an increase in share capital by 5,6 million RON to 8,07 million RON. Following the capital increase, the significant shareholders are Mircea Vescan (42,39%), Aldona (12,19%) and Olimpia Simona Popescu (10,42%). In April, the Dutch investment fund MEI Roemenie en Bulgarije Fonds NV acquired a 7,94% stake in the company from Aldona.
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