January 16 (SeeNews) - Romanian aluminium car parts manufacturer Altur Slatina [BSE:ALT] said that its board decided to waive insolvency proceedings initiated earlier this month.
The company submitted the waiver to an Olt County court, which acknowledged the filing on Thursday, Altur said in a statement filed with the Bucharest Stock Exchange on Friday.
On January 4, Altur announced its submission of the application for the launch of insolvency proceedings with the same court.
During the first three quarters of 2022, the company booked a turnover of 104 million lei ($22.8 million/21 million euro) and swung to a net profit of 3.2 million lei, compared to a net loss of 3.4 million lei in the like period of the previous year.
In 2021, Altur registered a net loss of 7 million lei on a turnover of 93.5 million lei, according to the latest data published on the finance ministry's website.
Altur shares traded 6.06% higher at 0.0525 lei as at 1042 CET on Monday, on the Bucharest bourse.
(1 euro=4.9413 lei)