The project will be developed through POS CCE and targets a higher efficiency of the energy consumption in the manufacturing process of glass containers, according to a statement sent to the Bucharest Bourse.
The project is worth a total of RON166.3 million, RON128.8 million of which representing the eligible amount. The EU’s inflow will represent up to RON51.5 million or 40% of the eligible amount, the difference being covered from private funds.
Stirom’s profit fell 31.8% on the year to RON13.58 million in 2012.
Greek group Yioula Glassworks owns 93.4% of the company’s shares through Cyprus-registered firm MGL Mediterranean Glass.
Stirom shares were last traded in Bucharest Tuesday at RON4.5 a share. (EUR1=RON4.3573)