Carmaker Aro Campulung at the end of last year posted losses of more than $7.3 million (243.1bn ROL), up 92% from the $3.8 million (131.7bn ROL) logged in 2001, according to the company's preliminary report filed with RASDAQ. Aro's turnover went down from 622.3bn ROL ($21.4 million) in 2001 to 620.8bn ROL ($18.7 million) at the end of last year. Aro's total revenues reached 690.1bn ROL, while spending totalled 933.2bn ROL. Association of Carmakers and Importers (APIA) data show Aro to have sold 1,236 vehicles last year, accounting for 1.1% of the market. By late 2002, Aro had come to total 75.1bn ROL in receivables, while its debts to third parties amounted to 833.9bn ROL (more than $25 million). It also has overdue debts worth 622.4bn ROL. Aro Campulung's main shareholders are the Privatisation Authority (APAPS) - 68.7% and SIF Oltenia - 23.7%. The company is listed on RASDAQ and was last trading for 4,500 ROL on the average on February 14. Aro's share capital is worth 264.1bn ROL, divided into 25,000 ROL par value shares. It was placed under receivership on April 10, 2002, in order to be prepared for privatisation. ZF
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