Gerom takes out 1.9m-euro credit

Shareholders of Buzau-based window maker Gerom have approved the contracting of a loan worth 1.9 million euros from the BCR for the acquisition of a new piece of equipment, as well as to set up a company specialised in the production of doors and windows. The company announced that the loan would be used for acquiring an oven for the manufacturing of tempered glass. The newly established company, Urbanglass, has a 578,000-RON share capital and is held entirely by Gerom. The company’s main activity is manufacturing and installing windows, doors and furniture. In December last year, the company’s shareholders decided to start an approximately 48 million-euro investment, which will be carried out between 2007 to 2009, in building a production facility manufacturing glass packaging. The investment will also be used for a 12 million-euro project to expand the production of glass used in the automotive industry. Gerom manufactures glass for electrical equipment and home appliances, the furniture industry, the car industry and for the constructions industry.