Faimar moves plant and sells land for 5.7m euros

The shareholders of Faimar Baia Mare, a ceramics producer, have put up for sale the land on which its production facility and headquarters are located on for 5.7m euros, and have decided to move production activities to another location. The land is located in Baia Mare, next to Bucuresti boulevard. The shareholders have decided to relocate their production facility and headquarters within a year to another area where the company's activity will continue without any layoffs. Faimar Baia Mare has a capital worth 2.3 million RON, of which 12.33% is owned by PAS (employee association), according to the latest data available. Several individuals and legal entities control the rest of shares. The company last year reported losses worth more than 3.3 million RON (around 1m euros), and turnover worth 19.4 million RON. Fai mar has a production capacity of around 5,000 tonnes annually, largely destined for export.