Sintofarm ups capital by 1.13m euros

Drug and detergent maker Sintofarm Bucharest has increased its share capital by 41.5bn ROL (1.13 million). The new funds are to be used for upgrading production lines. The money brought in by the capital increase will also be used to support production operations, by changing product strategies and images and promoting products through advertising campaigns, the company says. The operation will involve the issuing of 1,657,196 new shares with a par value of 25,000 ROL, bringing the company’s share capital to 69bn ROL (1.9 million euros). Last year, the company began an investment programme worth close to 450,000 euros aimed at attaining GMP (Good Manufacturing Practice) standards for its drug making processes. The company’s products are sold on both the domestic and international markets. It exports to Russia, Moldova, Hong Kong, Mexico, USA, Canada, and European Union countries. ZF