Swedish road marking material company Geveko has signed an agreement transferring its 90 percent share in the company Plastidrum SRL to Romanian investor Adrian Mugurel Teodorescu, the company announced.

“The price of the shares is set to EUR 1, but the agreement includes a guarantee of payment of receivables from Plastidrum SRL amounting to EUR 2.5 million during two years,” reads Geveko’s statement.

The payment of receivables is secured through pledges on the fixed assets of Plastidrum SRL.

Geveko’s CEO Göran Eklund stated: “The sale of Plastidrum SRL is the final part of Geveko’s concentration to its core business and gives us the possibility to put all focus on it, as well as the implementation of our profitability improvement programme”.

According to the data reported to the Romanian Ministry of Finance, Plastidrum SRL recorded a turnover of some EUR 2.8 million (RON 12.8 million) in 2012, and a loss of around EUR 3.3 million (RON 14.7 million).

Irina Popescu, irina.popescu@romania-insider.com

(photo source: sxc.hu)