EnglishPitesti-based company Rolast has changed its field of activity from manufacturing rubber products to real estate business, namely real estate letting and subletting.
The decision was made in the Extraordinary General Meeting of shareholders held on March 1st. The company"s management explained in the report to the Bucharest Stock Exchange that the move was necessary due to Rolast worsening performance and the impossibility to obtain profit despite several company restructurings and investments.
The company has not been profitable since 2003, when it posted a net profit of 221.589 RON, whereas on September 30th 2006 Rolast posted net loss of 6,43 million RON.
Rolast has a hare capital of 30,8 million RON, divided into shares with a face value of 0,1 RON. The majority shareholder is Naniero Investments Ltd., holding 50,59% in the company. Rolast is listed on the "unquoted" category of BVB, under the symbol RLS.
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