120,000 euro losses for Abrom

Abrasive materials maker Abrom Barlad has posted approximately 120,000 euro (4.5bn ROL) losses in the first three months of the year, while total sales of the company stood at nearly 0.3 million euros (10.8bn ROL). Abrom”s sales during the same time last year amounted to some 0.4 million euros, calculated at an exchange rate of 40,500 ROL/EUR, while the net losses stood at about 1.7 million euros, according to the data of the Bucharest Stock Exchange. Abrom representatives were not available for additional details. Operating revenues in the first quarter of 2005 were of nearly 320,000 euros (11.6bn ROL), while operating expenses amounted to some 410,000 euros (15bn ROL). Abrom Barlad makes and sells abrasive materials, and is the second such factory in the country after Carbochim Cluj. Abrom is listed on the Bucharest Stock Exchange. Its controlling interests (77.16%) are held by the State Assets Resolution Authority (AVAS), while investment fund Broadhurst owns 5.89%, according to BSE data. The state has tried to privatise Abrom on several occasions but failed. ZF