Builder Delta ACM increases capital by 54m euros

Delta ACM construction company, with 91 million euros in turnover last year, announced it was increasing its share capital by 223 million lei (around 54 million euros) by capitalisation of its reserves.

After the increase, the company's capital will amount to 260.7 million lei (around 63 million euros).

Over 99.99% of the company's share capital will be held by Florea Diaconu, following the increase.

"We increased the company's share capital because we want Delta ACM to gain more trust among current and potential clients, especially foreign ones. 2010 was a reference year in the company's history, with Delta tapping into the construction market of several countries in Africa and the Middle East," said Florea Diaconu, owner of Delta ACM.

Delta ACM in February sealed a contract for the construction of a motorway section in Iraq, worth 66.7 million dollars (47.8 million euros). The company will build a 20.6-kilometre section of the 58.3 kilometre-long Erbil-Koya motorway.

For this year, Diaconu estimates a 115 million-euro turnover, up by 24 million euros against 2010, thanks to works carried out abroad.