The company will use the money to fund manufacturing equipment and automation processes in its plant, following a decision by the General Meeting of Shareholders last month.
The interest is 2.5% plus three-month ROBOR, 100% subsidized by the Finance Ministry. The grant to pay it is valid for no more than 12 months from the date the loan was granted.
Norofert ended the first quarter of 2023 with RON1.7 million profit, 12% lower than in the year-ago period, as well as RON13.1 million revenue, 19.3% lower. Its shares have lost 29.4% in the past 12 months, on a traded volume of RON14.4 million and a capitalization of more than RON100 million.
(English version by Loredana Fratila-Cristescu)