EnglishThe Management Board of Prodplast SA Bucharest approved on Monday the proposal of a significant shareholder to divide the company into two entities while keeping the present shareholders, according to a report to the Bucharest Stock Exchange. Prodplast will separate its main activities, namely plastics manufacturing and real estate development.
In 2006, the company posted a net profit of nearly 4 million RON (1,17 milioane euro) up 4% from 2005, when it reported a profit of 3,8 million RON. In 2006, the company posted 63,8 million RON in turnover, up 8% year-on-year.
Prodplast shares are listed on Tier II of the Bucharest Stock Exchange under the symbol PPL. Prodplast increased its share capital from 11,65 million RON to 37,84 million RON. Following this move, Nord SA holds 24,66% in the company, SIF Banat Crişana holds 6,58% and SIF Moldova 5,08%, while 63,67% belongs to minor shareholders holding less than 5%in the company.
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