Mecanica Rotes to invest 2.7m euros

The shareholders of Mecanica Rotes Targoviste, a manufacturer of faucets, approved an investment plan worth 10 million RON (some 2.7 million euros), which targets production development, as well as investments on the capital market. The investment programme will be funded through a capital increase of more than 10 million RON, by contribution in cash from shareholders, a report filed by the company with RASDAQ shows. The funds will be used for the development of the core business, namely faucet and faucet-related products, the introduction of new products and the completion of investments in the glass-manufacturing unit. The company also plans to make some investments on the capital market. ZF