Romania: TRAM shareholders approve EUR 20mn loan from BT

01.11.2016

Romania: TRAM shareholders approve EUR 20mn loan from BT
Ziarul Financiar, 01 Nov 2016, online:-
The shareholders of Trameco (TRAM) have approved the contracting of a loan worth EUR 20mn (USD 22.46mn) from Banca Transilvania (BT) for a period of one year. The company's profits amounted to RON 200,000 (EUR 44,993.81 USD 50,536.96) for the first six months of 2016, while turnover stood at RON 9.8mn compared to RON 30mn in H1 2015. At the same time, personnel expenses fell by 39% to RON 1.3mn in H1 2016, after the number of its staff decreased from 142 to 101 during the same period. TRAM is headquartered in Oradea, north-western Romania, and focuses on construction logistics services.
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