3m-euro losses for Ambro Suceava

Ambro Suceava, one of the leading players in the paper and cellulose industry, estimates a turnover worth 31.2 million euros for this year, up from 22.5 million euros last year. In 2005, the company saw losses worth 3 million euros, whereas for this year, it intends to post a profit worth 0.2 million euros. Company representatives had not made any comment on this before this issue was ready for print. In the first quarter of this year, the company reported sales worth some 3.2 million euros. The majority shareholder of Ambro Suceava is Sical from France, with other shareholders including Romcarton Bucharest, and the French owned Rossmann and Sikor companies. At the beginning of this year, the company performed a capital increase of over 10 million euros. Cur rently, according to information available on the RASDAQ site, the share capital of Ambro Suceava stands at some 18 million euros.