Romcarbon Buzau increases stakes in Greenfiber and Greentech

Plastics producer Romcarbon Buzau (south), the first listed company from the so-called 'green industry' (that uses recyclable waste as raw material) increased its stakes in Greenfiber International and Greentech, reads a company notice to the Bucharest Stock Exchange (BVB).
Thus, Romcarbon increased its stake in Greenfiber's share capital from 31.4875 to 32.2475% by acquiring yet another 14 shares for a total price of 109,000 dollars, and its Greentech stake advanced from 25 to 32% after the acquisition of 14 shares for a total price of 177,660 dollars.
Romcarbon Buzau holds shares in three companies in the recycling industry – Greenfiber, Greentech and Greenweee (72%) – and will invest this year 10 million lei in the three entities, planning also to float them on the Stock Exchange.
Romcarbon's plans for this year include total investments worth 53.68 million lei, a turnover of 90.6 million lei and an aggregate profit of 11 million lei. The company also envisages the establishment of profit centers that will recycle used oils, auto filters and tires.

Investments in assets and new recycling projects have affected the company's financial situation starting 2007, and its credits advanced to 17.4 million euros. The massive depreciation of the leu in the second half of 2007 triggered a financial loss of 5.3 million lei, whereas the operation profit kept at the level of 2006.
Romcarbon Buzau has a broad range of products that includes the expanded polystyrene trays massively used in catering, but also processed polyethylene (14.67% of the 2007 turnover), auto filters – 6.42%, processed polystyrene – 9.33%, processed PVC – 5.45%, airway protection material – 5.2%, electrical wiring insulation – 4.28%, activated carbon – 0.5%, processed polypropylene – 34.53%.
The company has both domestic supply sources – Petrom, Oltchim, Sidex, Arteca Jilava – and foreign ones: Germany's Hollingsworth&Vose, the Belgian Mitsui, Serbia-Pancevo, suppliers from Croatia and the UK.
The bulk of Romcarbon products are marketed in Romania: 96% of the 2006 turnover and 5% in 2007.
The company's share capital is 18.645 million lei, split into shares with a face value of 0.1 lei/share.
Company shareholders are Living Plastic Industry – 32.51% of the stake, Unitai International Corporation – 20.63%, Eastern Eagle Fund – 18.4% and other shareholders – 28.46%.

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