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Board of Directors of Altur Slatina approve opening of general insolvency procedure
The Board of Directors of Altur SA Slatina approved on Tuesday the opening of the general insolvency procedure according to the provisions of Law 85/2014, according to a report submitted to the Bucharest Stock Exchange (BVB).
"The Board of Directors of Altur SA Slatina (...) informs the shareholders and investors that it has approved the opening of the general insolvency procedure according to the provisions of Law 85/2014 on insolvency prevention and insolvency procedures, as well as the filing of the request for opening at the Olt Court of the insolvency procedure together with the declaration regarding the intention to reorganize the activity of Altur SA based on a Reorganization Plan, in accordance with the provisions of Law 85/2014", reads the document sent to BVB by the president of the Board of Directors, Rizea Gheorghe Nitu.
Altur recorded a net profit of 3.25 million RON in the first nine months of 2022, compared to losses of 3.4 million RON in the same period of 2021, according to the quarterly report published by BVB.
The turnover increased by more than 50% compared to that from January to September 2021, to 103.87 million RON.
Through the products it makes, Altur Slatina is an important supplier for several industrial sectors, the most important of which are: the city and off-road car industry; tractor and agricultural machinery industry; the industry of vehicles for transporting goods and passengers; electrotechnical industry and natural gas heating systems.
Among the company's clients are Automobile Dacia-Renault (for parts for first assembly on cars and spare parts), Total Gaz Iasi (pressure-cast parts from aluminum alloys for gas distribution systems), Hesper Bucharest (elements for hydraulic pumps of high pressure), Anorom Deva (cast parts under pressure for airport lighting installations), etc.
Altur has been listed on the BVB since December 2004.