Samsung Germany, owned by Samsung Corporation, sent over EUR 30 mln as an equity contribution to the capital of Otelinox Târgoviște, the only producer of cold-rolled stainless steel sheets and strips in Romania, according to data from the Trade Registry quoted by Economica.net.

Samsung Deutschland operated the largest capital increase of a Romanian company in November of last year, according to the same source.

"The capital increase is for improving Otelinox's productivity and energy efficiency to comply with the European Green Deal plan," Samsung Germany told Economica.net.

Otelinox is the only manufacturer of cold-rolled stainless steel sheets and strips in Eastern Europe. In 1997, Samsung Deutschland bought the majority stake.

In 2021, Otelinox achieved a turnover of almost EUR 40 mln but reported EUR 720,000 in losses – after six years in a row in the profit area. 

andrei@romania-insider.com

(Photo source: Giovanni Gagliardi | Dreamstime.com)