Carbochim Cluj-Napoca, one of Romania's major producers of professional abrasives, plans to buy a plot of land of 3-5 hectares worth up to 3.6 million euros in the next three months to expand its production capacity. "We want to buy a plot of land to expand production. The land should be in Cluj or near Cluj. The 3.6 million euros is the maximum sum shareholders have approved for the purchase of the land," specified Dorin Popoviciu, general manager of Carbochim. He also became the most important shareholder in the company after the Employees' Association was dissolved, thanks to his 17.6%. Popoviciu also said the company intended to expand production by launching new products, but was unwilling to offer further details for the moment. The acquisition of the land will be largely financed through banking loans. The company's management also said it was considering several offers and would eventually choose the "cheapest" one, bearing in mind all the costs related to this objective. Carbochim ended the first quarter of the year with net income worth 42,200 euros, 16 times higher than the figure reached in the similar period of 2005.
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