Broadhurst breaks up Elpreco

The management of Elpreco, one of the most important manufacturers of constructions supplies on the Romanian market, will request shareholders to authorise the company”s managers to devise a project to break up the company. Elpreco merged with Rompreco Craiova towards the end of last year, a spin-off of harbour operator Romportmet Galati established in the first half of 2005. All three of them were controlled by US-based investment fund Broadhurst, which sold its stake in Romportment later in the year. The representatives of New Century Holdings (NCH), the company that manages the Broadhurst fund, said this break-up entailed separating a several hundred thousand dollar plot of land that is not used in the core operations of the company and is the object of litigation. NCH officials did not provide further details on the litigation. ZF