Milling group takes EUR 16 mln loan from Romanian lender BRD
Milling group GoodMills Romania – the former Titan - will take a EUR 16 million loan from local lender BRD.
It will guarantee the loan with buildings in Bucharest and Targu Mures, accounts opened at BRD, inventories and receivables resulting from contracts, reports local Wall-street.ro.
GoodMills Romania estimates an operating profit of EUR 1.2 million for the fiscal year 2014-2015, after the company recorded losses of EUR 3.2 million the previous year (October 2013 - September 2014).
The group posted a EUR 71.3 million turnover in the fiscal year 2013-2014.
GoodMills Romania is indirectly controlled by financial group Raiffeisen, through GoodMills Group.
The former Titan factory took over the name GoodMills in October 2014.
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