Business in Romania blog: Doing business in Romania and business issues

The business in Romania blog writes about the Romanian business landscape, doing business in Romania, investing in Romania business and debating on business issues in Romania. Check this Blog's Policy here.

Sitemap | Feedback | Doing Business in Romania report | Opening a Business in Romania | RSS for this Blog

Wednesday, November 17, 2004

Terapia borrows USD 25 mln. from HVB Bank and Bank Austria

Terapia Company Cluj-Napoca will lend USD 25 mln- during this month- from Bank Austria Creditanstalt AG and HVB Bank Romania, and the funds will be used for financing company activities, stated on Monday, the general manager of the company, Stephen Stead.

The funds will be used for projects, new drugs launches and row material purchase. Terapia started this year a USD 10 mln investment program on environment protection, which includes the modernization of the entire production platform. The environment program will be carried on in three years. At the same time, Terapia finalized at the beginning of this year, investments of approximately USD 4 mln. for modernizing the injection drugs department, according to GMP standards (Good Manufacturing Practice).

The company intends to extend its products in the cardiovascular, SNC (nervous- central system) and muscle–skeleton segments. The company hints to register a USD 43 mn turnover and a 15% profit rate by the end of 2004.

Posted by Mihai : 11/17/2004 01:06:00 pm