Ductil to pay 50% of profits in dividends

Welding electrodes manufacturer Ductil Buzau is to allocate some 2.14 million euros, more than 50% of net profits for 2004, to dividend payments. Gross dividends paid to shareholders will amount to 420 ROL/share. The majority shareholder in Ductil Buzau is the multinational company Air Liquide Welding Group, which owns 70.9% through Italy-based company FRO. Ductil”s biggest minority shareholder is Broadhurst investment fund, which owns 13.7%. Ductil made 4.16 million euros in net profits in 2004 and close to 28.2 million euros in turnover, up around 18% on 2003. Most of the revenues were derived from selling welding electrodes made in Buzau and special welding consumables made at other facilities belonging to Air Liquide Welding Group. Besides consumables, Ductil also supplies welding and cutting equipment, digitally controlled automated cutting installations and other welding and cutting accessories. The company”s domestic sales account for over 70% of its total sales. Ductil has a market share in Romania of more than 50% on the electrode and welding consumables segments. ZF