EnglishAt the request of one of the shareholders, the Board of Administration of Pantex SA Braşov summoned the General Assembly of Shareholders for November 19th. The agenda includes reports on the company"s activity in the previous years and in the first semester of 2009, as well as adding new lines of business to the company"s articles of incorporation. The core business of Pantex Braşov is the manufacturing and sale of trimmings (ribbons, weaved and printed labels, badges, pennants, etc.).
Last year the company saw its turnover drop by more than 30%, from 14.381 million lei to 10,007 million lei. The company"s profit also dropped 27.51%, from 240,641 lei to 174,429 lei.
According to a report sent to the Bucharest Stock Exchange, 62.58% of the company"s output was sold on the domestic market and 37.42% was exported. Exports decreased in 2007, as orders from Italian customers dropped in the second half of the year on the back of the financial crisis.
The company"s general manager, Neculai Vrabie, holds a 9.94% stake in the company. Other shareholders include: Chief Financial Officer Maria Tudora (10.73%), Nicoleta Matei - (11.99%), Victor Vrabie - (12.43%), SIF Moldova - 6.96%, company Textile Blue Wash - 10.74%, and various other shareholders hold a 37.21% of the shares.
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