"Cerealprod" Focşani to borrow money to finance its operations

EMILIA OLESCU (Translated by Cosmin Ghidoveanu)
Ziarul BURSA #English Section / 27 iunie 2011

"Cerealprod" Focşani, of the county of Vrancea, will take out long term loans from banking and non-banking financial institutions, for the year 2011 and for the first five months of the year, according to the Official Gazette. The loans will be used to allow the company to carry out its line of business, and their total value may exceed half of the book value of the company"s assets, up to 2.5 million lei. The loans will be guaranteed with assets owned by the company or by third parties.

Last year, the company had a net profit of 43,811 lei, which will be used for the legal reserves (675 lei), for the development fund (11,139 lei) and for dividends (32,000 lei).

In 2009, the unallocated profit was 32,435 lei, with a turnover of 99,605 lei.

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