Romania Valve Producer Armatura Plans To Borrow 5.0 Mln Euro To Pay Debts

The company will guarantee the loan with its assets, it said in a statement. Shareholders will vote on the proposal on February 25.

Armatura shares, listed on the Bucharest Stock Exchange, last traded at 0.165 lei on December 16, unchanged from the previous close on December 2.

Armatura (www.armatura.ro) is based in Cluj-Napoca, in northwestern Romania. It said in April it expected to turn to gross profit of 145,000 lei ($49,200/34,500 euro) this year from a 1.1 million lei loss in 2008.

(1 euro = 4.2006 Romanian lei)