UAMT Oradea borrows up to 3.5m euros for investments

UAMT Oradea, a producer of car parts and accessories, plans to contract loans worth as much as 3.5 million euros for investments, the company announced. The loans will be guaranteed with assets of the company. The contract for the loan will be analysed by shareholders on November 14. Another issue on the shareholders' agenda refers to the company's possible participation in the capital of other road transportation companies, car dealerships or other domains, with at least 20% of capital. In the first quarter, the firm posted net turnover worth 19.05m RON (5.7m euros), down 26% against the same time last year amid a drop in domestic sales of Dacia Logan cars. The company expects to generate overall revenues worth 76.5m RON in 2007, down 27.2%, and total expenses worth 76m RON, 20% lower on last year's level.