The rebel Moldovan region of Transdniestria has sold its indebted glass packaging producer Tirsteklo for USD 450,025 (EUR 346,600) to local company Megagrupp, the region“s Economy Ministry said on 8 …
The rebel Moldovan region of Transdniestria has sold its indebted glass packaging producer Tirsteklo for USD 450,025 (EUR 346,600) to local company Megagrupp, the region“s Economy Ministry said on 8 February 2007. The region had tried several times to sell the business without success. Megagrupp pledged to invest USD 1.7 million in upgrades in Tirsteklo by 2012 and increase the sales revenue of the company to USD 2.4 million by 2012, the ministry said in a statement. Tirsteklo“s current sales revenue figures were not immediately available. Megagrupp will have to repay the company“s outstanding debt of USD 402,600. Transdniestria is located on the left bank of the Dniestr river in eastern Moldova. It broke away from Moldova in 1990 as its largely Slavic, pro-Russian population feared that the country“s Romanian-speaking majority would unite the country with neighbouring Romania.