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Romet group invests in pipeline plant

Buzau-based holding Grup Romet unfolds an investments worth 10 million euros, in view to the construction of a pipeline plant. The new unit, Superlit Romet, is a joint venture in which, alongside Grup Romet is involved also the Turkish company Superlit Boru Sanayi.

Superlit Romet will produce GRP (glass reinforced plastic) pipes through a modern technology supplied by the Turkish partner, that can be used at the sewerage system or micro hydro-power plants. ‘'We already have a portfolio of signed contracts, worth over 20 million euros,'' Constantin Toma, president of Grup Romet told daily Business Standard. According to the company's representatives, Supelit Romet will start activity this spring and aims to report at the end of the year a turnover of 15 million euros. In the third year of activity, the new pipeline plant in Buzau (eastern Romania) will have to reach about 50 million euros in turnover. With a view to unfolding the investments, the shareholders of Superlit Romet SA decided to contract a loan of 7.25 million euros, according to the information carried with the Official Gazette. The investment loan is contracted for a 10-year period, with 2-year grace period and will be guaranteed with a mortgage on the securities held by Superlit Romet Buzau and on the future goods due to the project. Sursa: http://www.rompress.ro

Tags: romet superlit euros plant pipeline million

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