SW Umwelttechnik operates 2.2m-euro capital increase

The Romanian branch of the Austrian environmental protection group SW Umwelttechnik has increased its share capital by 2.2 million euros, to three million euros, through a cash contribution from its sole partner, SW Umwelttechnik Stroiser & Wolschner AG in Austria. The move was approved in June and will be conducted by transforming short-term loans granted by the sole partner, between July 1st 2005 and December 15th 2006, into a share capital contribution, according to an announcement published by the company in the Official Gazette. The Austrian group previously announced it would invest 30 million euros within the next three years in building two concrete prefab factories in Giurgiu and Mures counties. SW Umwelttechnik is involved in infrastructure, engineering and environment preservation, and holds plants in Austria, Hungary and Romania. The group posted revenues worth 16 million euros in the first quarter, up 72%, with the company’s business almost tripling, to approximately 1.44 million euros.