The government financing was approved at the end of 2020 for Vrancart Recycling, a company fully owned by Vrancart.
Vrancart ended the first nine months of 2020 with a net profit of RON10.1 million, down 34.6% on the year, and a turnover of RON207.9 million, down 7.7% on the year.
Vrancart Adjud is 75% owned by regional investment fund SIF Banat-Crisana (SIF1.RO), while Paval Holding, the investment vehicle of Paval brothers, the owners of do-it-yourself retailer Dedeman, owns 16.9%.