Prodplast owner, businessman Florin Pogonaru, said in a statement Friday that the company will resume production using new equipment from abroad and a new plant. He also said the new equipment was bought from a company in Italy for EUR480,000.
In early April, Prodplast announced it would cease production indefinitely as of May 1 because of relocation proceedings.
The shareholders of plastics manufacturer Prodplast decided back in 2008 to split the company into two firms, of which, one called Prodplast Imobiliare would specialize in real estate operations.
Prodplast reported a nearly 5% decline in its first-half turnover to 23 million lei (EUR5.09 million). The company’s profit stood at around RON1.7 million in the first half of 2012, compared to RON215,000 in the same period a year ago.
Pogonaru, who is also president of the Association of Businesspeople in Romania (AOAR), holds over 51% in Prodplast, jointly with other firms, and regional investment fund SIF Oltenia owns a 23.63% stake.
On the Bucharest bourse Thursday, Prodplast closed up 7% at RON0.995 a share. (EUR1=RON4.5140)