Roman Brasov extends 4.3m-euro credit line

Shareholders of Roman Brasov, a tractor and truck manufacturer, have approved the extension of the credit line from Banca Comerciala Carpatica Sibiu, amounting to 16.8 million RON (4.3 million euros) and valid in 2009, as well as a credit of up to 5 million RON, from the same bank. The funding is backed by a real moveable security, as well as by mortgages on buildings held by the company, according to a release by Roman, sent on Wednesday to the Bucharest Stock Exchange. The decisions were approved on Tuesday via an Extraordinary General Meeting of Shareholders. The company posted profit worth 861,755 RON in the first half of the year, after incurring 14.14 million-RON losses the same time last year. The profit increase was driven by a significant rise in revenues, to 80 million RON. The company is controlled by businessman Ioan Neculaie, who holds 91.49% in Roman Brasov through Pro Roman Brasov. The businessman also holds Prescon, a company involved in the constructions field.