Austrian Donau Commodities to buy Laminorul Roman

3. Juli 2006, 00:00

Austrian-owned Donau Commodities Bucharest will buy from the National Tax Administration (AVAS) a 68.8 per cent stake...

Austrian-owned Donau Commodities Bucharest will buy from the National Tax Administration (AVAS) a 68.8 per cent stake in Laminorul Roman.

The buyer will pay EUR 221,374 for the stake and pledged to invest EUR 10.8 million in the company. Donau Commodities will also carry out a capital injection of EUR 6.5 million.

The Austrians agreed to keep all the 537 employees for at least five years and to pay the debts of the company, worth RON 29.5 million.

The contract was contested by the union, whose representatives claim that Donau Commodities is a representative of Danish company Danscaan Steel.

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