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Article: Romania: Privatization makes slow progress
- Article from:
- PPI
- Article date:
- July 1, 2001
- Author:
CopyrightCopyright Paperloop, Inc. Jul 2001. Provided by ProQuest LLC. (Hide copyright information)
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Last year represented a turnaround for Romania as GDP increased by around 1.6% after several years of steady decline. The pulp and paper industry boasted a successful year, as average output increased by over 22%.
At the beginning of the year, the state held over 50% of the shares in Romania's mills. Following some privatization activity, the percentage of state-owned shares dropped by 20-30% in some cases.
At least two producers were snapped up by foreign investors. Somes Dej was sold off to Hovis of Austria, while Italy's Faper ...