Amep plans big investments

Food industry packaging producer Amep American Packaging wants to finalise this year the entire investment programme worth almost 3 million dollars, which was approved by the General Assembly of Shareholders (AGA) for the following year.

“Investments made during the first part of this year were fruitful and the evolution of the company is positive at present. Moreover, I think that, should we manage to keep up this development pace, we are likely to finalise the investment programme approved by AGA much earlier, even by the end of this year,” Luminita Mosescu, the company’s general manager, told Ziarul Financiar.

During the last AGA meeting, shareholders approved a raise in the company’s share capital by 11.6 billion lei to 59.8 billion lei, following the contribution in kind by the company’s majority shareholder, Polish American Packaging, an operation that triggered an increase in the shareholder’s weight within the company’s capital, to 92.47 percent.

The increased weight of PolAm Pack follows a similar operation that took place this March, when the Polish company’s weight climbed from 87 percent to 91 percent, amid contribution in kind amounting to 12.18 billion lei.

The same AGA meeting also approved an investment programme from the company’s own sources, worth 2.45 million dollars, a programme that is included in the investment plan 2000-2001. “Investments approved by AGA will be kicked off as soon as possible, most probably this month,” Mosescu also said.

Amep American Packaging registered on the first six month of this year net profit standing at 2.3 billion lei, amid turnover worth 49.102 billion lei. Last year, the company posted profit of about 2 billion lei.

Last year, Amep invested over one billion lei from its own sources, a sum that is added to investments operated by the company’s main shareholder over the last two years, which amounted to 3.32 million dollars, according to the contract concluded with the State Ownership Fund.