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The metallurgic plant "Mechel" Târgovişte has announced it will participate in the share capital increase of "Mechel Reparaţii" Târgovişte, by a contribution in kind of 15.4 million lei, the equivalent value of several plots of land, buildings, vehicles and equipment. The shareholders have agreed to the plan.
The plots that the metallurgic plant will contribute to the increase the share capital of "Mechel Reparaţii" have a total surface of 78,610 square meters. The assets were appraised based on the company"s financial statements at the end of August. "Mechel Reparaţii" currently has a share capital of 200 lei, according to the press release.
Also, the shareholders of the plant have also ratified the guaranteeing several contracts with a combined value of 30 million Euros that Mechel Târgovişte had concluded with Raiffeisen Bank.
The metallurgic plant is controlled by Russian group "Mechel", through its subsidiary "Mechel International Holdings", which holds 86.6% of the shares of the plant, whereas AVAS holds 4.04%.
In Romania, Russian group "Mechel" also owns "Mechel Câmpia Turzii", "Ductil Steel Buzău", "Laminorul 2" Brăila and "Oţelu Roşu".
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