Simcor group takes out 3.3m-euro credits for investments

The Oradea-based Simcor group, which operates on the construction material market, has taken out loans worth a total of some 3.3 million euros from OTP Bank, to invest in its lime and ACC (autoclaved cellular concrete) business. Simcor Var (Simcor Lime) contracted a loan worth 720,000 euros, while Simcor SA, the ACC manufacturer, borrowed 850,000 euros. Last year the Simcor group invested 1.5 million euros in lime plants in Medgidia and Targu-Jiu, and in the ACC plant in Oradea. Additionally, Simpromat, the company that handles the group’s management, took out a 1.7 million-euro (6 million-RON) loans. Last year, the Simcor group estimated a 52 million-euro turnover, an approximately 10-15% increase against the previous year.