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Sintofarm gives up medicine manufacture to become real estate developer

The medicine producer Sintofarm (SINT) summoned its shareholders at the end of December to decide on selling equipment, trademarks and other shares and on taking over the name Imosint and change the field of activity for real estate development, according to ActMedia news.

2015-11-25 15:11:21

Shareholders must decide on selling the whole trade fund of the company except for buildings. The meeting will be held on December 21. Sintofarm has a factory in Bucharest. Last year the company reported a net business figure of 6.17 million lei, on the drop by 13 per cent from 7.08 million lei in 2013, when net profit dropped to less than a half, from 1 million lei in 2013 to 470,000 lei in 2014.

In the first nine months of 2015, the net business figure was 4.72 million lei, very close to the one registered the previous year-4.66 million lei. Gross profit was 493,825 lei, on the drop by 9 per cent compared to 542,347 lei last year. Sintofarm shareholders are Generalcom-27.99 per cent, Interfinance Capital Investment (Gibraltar)-26.27 per cent, Iberestate International-15.37 per cent and SIF Muntenia (SIF4)-13 per cent, while the rest of shares belong to other investors.

Generalcom (GECM) is a company specialised in managing commercial areas and has shares at Centrofarm and Sintofarm. The main shareholders of Generalcom are Iberestate International -45.6 per cent and the Portuguese businessman Alain Bonte-36.93 per cent. The rest of shares is owned by other shareholders.
Bonte is chairman of the Administration Board of Sintofarm, while Radulescu Niculina is vice-chairman. They are also managers of Generalcom, where Bonte is president and Radulescu general manager.



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