The loan was approved by the Managing Board Thursday, Condmag said in a statement.
Condmag reported a 31% increase in turnover, to 15.2 million lei (EUR3.5 million), in the first quarter of 2012, and a 58% rise in loss, to RON7.1 million (EUR1.6 million).
Dafora (DAFR.RO), owned by businessman Gheorghe Calburean, controls 45.82% of Condmag shares, and Dutch investment fund OGBB A Van Herk holds a 10.91% stake. The remaining stake, of 43.26%, is distributed among minority shareholders.
Calburean is also managing board chairman at both Condmag and Dafora.
On the Bucharest bourse Thursday, Condmag shares closed down 0.93%, to RON0.107 a share. (EUR1=RON4.5638)