Elma AD, the Troyan-based asynchronous electric engine manufacturer, will raise its capital to 2 mln levs through the issue of 1,146,525 new shares with a nominal and issue price of 1 lev each. The proceeds will be invested in new equipment that will improve productivity and retrench production costs. Elma, controlled by companies of former privatisation fund AKB Fores, posted revenues of 18.45 mln levs and profit of 20,000 levs for '04. H1 revenues fell to 7.88 mln levs while profit came in at 41,000 levs.