“2020 was both unpredictable and challenging. Considering the global pandemic and the local context of a severe drought across Romania, we are pleased to deliver results that exceed the targets set up and approved by our shareholders in April 2020,” stated Vlad Popescu, CEO of Norofert.
Norofert is currently carrying out a share capital increase. The company seeks to increase its share capital by 550,000 new shares and raise RON7.2 million. The capital raised will be invested in a soil fertilizer production line of high capacity and quality.
Norofert Group recently acquired a 1,000-hectare farm in Zimnicea, Teleorman county, for RON9.5 million. The farm is located within a 5 km distance from the Zimnicea Port on the Danube, which is the cheapest logistics route to Central Europe.
Norofert Group has been listed on the alternative trading system AeRO of the Bucharest Stock Exchange since March 2020 and has a market capitalization of RON228 million.