Bunge increases capital by 11.5m euros

Bunge Romania, owned by the American group Bunge, will increase its share capital by 41.2 million RON (11.5 million euros) through a cash contribution by the sole shareholder, Koninklijke Bunge BV (KBBV) from the Netherlands. Before this increase, Bunge Romania’s share capital stood at around 1.3 million RON (360,000 euros). Company representatives had not made any comment on the subject by the time this issue was ready for print. Bunge Romania supplies sunflower seeds to the factories the American group owns in Oradea and Iasi. Halfway through last year, Bunge decided to close the Muntenia Bucharest oil factory, justifying this decision by the fact that it intended to improve operational efficiency. According to company representatives, monthly costs of the Muntenia plant exceeded those of the other two plants of the group, Interoil Oradea and Unirea Iasi by 200,000 euros. In order to become efficient, the plant would have needed investment of over 15 million dollars (12 million euros), a project that was considered unprofitable due to the difficulties witnessed by the industry as a whole last year.