Prodplast, 65m euros from land

Plastics producer Prodplast Bucuresti (PPL) has recently reassessed its assets with a view to breaking up the company. The value of assets stands at 275.7m RON (around 76m euros), from 42m RON (11.8m euros), the level recorded in the accounting books by the firm at the end of last year, according to the break-up prospectus the company’s representatives published in the Official Gazette. Gains registered from this operation amount to around 233m RON (65m euros). Prodplast’s main asset is the 4.3-hectare plot of land in Bucharest’s Obor district where the plant is currently located, which after relocation near Belciuge, Calarasi county, was to be used for the development of a real estate project or sold to get the necessary resources for relocation.