Romanian aluminium components manufacturer Altur initiates insolvency proceedings
The Romania-based aluminium components manufacturer of cars, Altur's board of directors, stated it authorized the filing of insolvency proceedings and intended to restructure the company's operations.
On January 3, 2022, the company said during the Bucharest Stock Exchange filing that it applied to the Olt County court to initiate insolvency proceedings.
Furthermore, Altur declared in court its intention to restructure the company's activities in accordance with a reorganisation plan.
According to the recent data revealed on the nation’s finance ministry’s website, the company recorded a turnover of 103.8 million lei and a net profit of 3.2 million lei in the first three quarters of 2022, compared to a net loss of 3.4 million lei in the same period the previous year. The company made a net loss of 7 million lei on a turnover of 93.5 million lei in 2021.
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