Loading ...Romanian market should absorb in the five years to come a quantity of some 200,000 tonnes of cables per year, compared to some 35,000 tonnes, as currently needed in all activity fields, appreciated Periklis Sapountzis, director general of the Hellenic Cable Group.
Demand is expected to be stimulated by the ongoing real estate projects, infrastructure renewal, as well as by a higher number of orders coming from some big companies, such as CEZ, ENEL, Electrica or Romtelecom.
Hellenic Cable Group controls Bucharest cable producer ICME ECAB, which announced investments of ten million euros for this year in view to expand the production capacities of aluminum cables, from 45,000 tonnes to 55,000 tonnes per year, as well as the introduction of new technologies.
In the past nine years, overall investments of this company reached the amount of 35 million euros.
Bucharest-based company reported last year a turnover in excess of 124 million euros and a profit ahead taxes of eight million euros. In 2006, ICME ECAB business attained the level of 99 million euros.
Bucharest-based company reported last year a turnover in excess of 124 million euros and a profit ahead taxes of eight million euros. In 2006, ICME ECAB business attained the level of 99 million euros.
"For this year, we expect a significant business development, given that there are several investment projects under way. In contrast with the west, where the market is saturated, demand in Eastern Europe follows an upward trend. We are focusing in Romania on products based on highly skilled labour", underlined Sapountzis.
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