1.43m-euro capital increase at Viromet

The chemical plant Viromet Victoria, intends to increase its share capital by some 1.43 million euros (5 million RON) through a cash contribution by the company’s shareholders. The bulk of this capital increase comes from a 1.17 million-euro (4.1 million-RON) investment conducted by the InterAgro group, the company’s majority shareholder. Minority shareholders will be entitled to exercise their preference rights and any shares left un-subscribed will be annulled. The InterAgro group, controlled by businessman Ioan Niculae, owns 82.38% of Viromet shares, with a 5.45% stake being owned by the AVAS (State Assets Resolution Authority). Viromet posted a turnover worth 11.7 million euros (41.5 million RON) in the first half of the year, an approximately 8% drop against the first half of last year.