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Bearings Producer Rulmenti Barlad Plans Indian Branch

Release time : 2015-06-16 07:50:41
Rulmenti Barlad (north-east) plans opening a bearings manufacturing and marketing company in India, as well as increasing the capital of its Turkish branch by some 560,000 euro, reads a company release to the Bucharest Stock Exchange (BVB). The shareholders decided that Rulmenti Barlad should enter a partnership with URB Europe and get control of 50 pct of the 5 million euro capital of the Indian branch. Rulmenti Barlad officials approved the construction by a real estate developer of a residential complex on one of the land plots owned by the company in exchange of 25 pct of the completed apartments that the company will further sell. Rulmenti Barlad, controlled by Turkish holding Kombassan, has a share capital of 100.2 million lei (27.5 million euro) split into 40.1 million shares. Among the competitors of Rulmenti Barlad are Koyo Romania (located in the southern city of Alexandria), URB Rulmenti Suceava (east), SNR Rulmenti (Sibiu, centre) and Timken Romania (Ploiesti, south).