Cardboard producer Vrancart Adjud, which is controlled by the local investment fund Banat-Crisana, wants to invest over EUR 18 million in modernizing and increasing its production capacity this year and in 2017.

The company posted a turnover of EUR 47 million in 2015, up by 6% compared to the previous year. The net profit amounted to EUR 4 million, down by 4% over 2014. The profit dropped as the company increased its spending with raw materials as well as its personnel costs.

The company announced its preliminary financial results on Friday. The announcement determined a 6.7% increase in the company’s share price on the Bucharest Stock Exchange. Its market capitalization climbed to EUR 24.3 million.

editor@romania-insider.com