Romanian plastic packaging producer Romcarbon Buzău (BVB: ROCE) announced in a note to investors that it is receiving a RON 35.2 million (EUR 7 million) grant under the Resilience Facility (PNRR) to develop a plastic waste recycling and recovery unit.
Its shares jumped +15% upon the announcement while still marking a 15% y/y decline. The company’s current market capitalisation is almost RON 80 million (EUR 16 million).
The total value of the project is RON 72 million (VAT included), of which the company’s contribution, consisting of its own and attracted resources, amounts to RON 36.8 million, RON 13.4 million being ineligible expenses.
In 2024, Romcarbon Buzău reported revenues of RON 225.6 million, up 5% y/y, and a loss of RON 8.3 million (more than twice larger y/y).
iulian@romania-insider.com
(Photo source: Arnaud Martinez/Dreamstime.com)
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