EnglishShareholders in UCM - Resita have approved an 18 million EUR loan to financed largely overdue debts to the State, according to a report to the Bucharest Stock Exchange quoted by NewsIn. The 18 million EUR loan will be taken from the Anglo Romanian Bank. The shareholders have also approved a 20 million USD loan from the majority shareholder, INET AG.
UCM - Resita concluded last year with 53 million RON (15.6 million EUR) losses against 121.6 million RON (36 million EUR) turnover. The budget approved for this year indicates a gross profit of 8.5 million RON. The company was established in 1991 from the former State-run enterprise ICM - Resita. In December 2003, APAPS sold 60.79% to the Swiss-based INET A.G. and the Employee Association. INET later increased their stake to 96.39%.
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