Vitrometan closure decided

The board of directors of Romanian glassware manufacturer Vitrometan in Medias, central Romania, decided the plant“s closure on 10 May 2002.
Vitrometan was closed because of accumulated losses and n…

The board of directors of Romanian glassware manufacturer Vitrometan in Medias, central Romania, decided the plant“s closure on 10 May 2002. Vitrometan was closed because of accumulated losses and non-profitability, according to the plant“s majority shareholder Horst Bauling. Only Nicolae Coldea, one of the plant“s four shareholders and former director, voted against the plant“s closure, shift chief Toader Calugar said. The employees did not agree on the plant“s management decision for closure and said that the plant could be profitable. Vitrometan has to recover about US$ 500,000 worth of orders from a number of undisclosed companies, according to the employees. No further details were available.