Romania's "Wall Street": The Shlomo Group's investment could reach €80 million.
Shlomo Group, controlled by Shlomo Shmeltzer is considering an investment of €70-80 million in infrastructures for the Romanian petrochemical industry, according to reports in the Romanian daily, "Wall Street." The reports claim that Shmeltzer is likely to invest in the building of a purification and recycling plant near the oil refinery in the city of Ploiesti.
In a related development, Shmeltzer told "Wall Street" that Shlomo Group was in advanced talks for a franchise to import cars from China. The franchise will initially cover the Romanian market, in which Shlomo currently operates through the leasing and rental company New Kopel Ltd. (TASE:NKPL). Shmeltzer told "Wall Street" that "We are set to begin importing Chinese-made vehicles to Romania. There are 130 vehicle manufacturers in China, and we're negotiating with the larger ones."
"Wall Street" claimed that initially, the cars would be imported for use by New Kopel's vehicle fleet, and that they would then be offered to the public at large.
Shlomo Shmeltzer declined to comment on the report.
Published by Globes [online], Israel business news - www.globes.co.il - on May 17, 2007
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