Romanian drug producer Sintofarm has summoned its shareholders at the end of December to decide if the company will change its activity to real estate development.

The shareholders will decide if the company’s assets, excluding the buildings, will be sold and if the name will be changed to Imosint, reports local Wall-street.ro.

Sintofarm owns a factory in Bucharest. The company posted a turnover of EUR 1.3 million last year, down 13% from EUR 1.6 million in 2013. Its net profit dropped from EUR 224,000 in 2013 to EUR 105,000 in 2014.

editor@romania-insider.com