End-2007, Turbomecanica paid 11.6 million lei (EUR2.5 million) for a land of over five hectares in industrial area Bucuresti Parc Vest to relocate its production capacity.
Two years ago, the company announced it was planning to sell buildings and lands covering up to 34,000 sqm, located in Bucharest’s sixth district, for at least RON50 million, as part of a restructuring process meant to improve the company’s financial situation and make it profitable.
Turbomecanica said its sales fell 26% to RON17.2 million and its loss narrowed 27% to RON3.2 million on the year in the first half of 2013.
The aircraft parts maker has a share capital of RON36.9 million split into 369.4 million shares with a face value of RON0.1.
On the Bucharest Stock Exchange Friday, Turbomecanica closed up 0.6% at RON0.0318 a share. (EUR1=RON4.4288)