UMT wants to sell a plot of land for 4 million Euros

EMILIA OLESCU (Translated by Cosmin Ghidoveanu)
Ziarul BURSA #English Section / 25 iulie 2011

UMT wants to sell a plot of land for 4 million Euros

"Uzinele Mecanice Timişoara" (UMT) intends to sell a plot of land with a total surface of 66,643 sqm to "Continental Automotive Products", in exchange for 3.99 million Euros, according to information published in the Official Gazette. The proposal will be submitted for approval in the General Extraordinary Shareholder Meeting, summoned for August 16th, 2011.

Last year, the company had a turnover of about 24.171 million lei and a loss of approximately 2.6 million lei, according to its report.

In 2009, UMT posted losses of 810,529 lei, and had a turnover of more than 29 million lei, according to information from the website of the Ministry of Public Finance (MFP).

Created in 1998, "Continental Automotive Products" manufactures tires, air chambers, reshapes and retreads tires.

In 2009, the company had a profit of 205.4 million lei, and turnover has exceeded 1.4 billion lei, according to data from the Ministry of Public Finance.

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