2.7m-euro capital increase for Arabesque

Arabesque Galati, the leading local distributor of construction supplies and finishes will increase the company”s share capital by 10 million RON (2.7 million euros) as a result of the net profit at the end of the 2003 financial year. After the increase, Arabesque”s share capital will stand at approximately 14 million RON (3.8 million euros). Arabesque, which is 98% owned by Virgil and Angelica Rapotan (husband and wife), currently employ 1,700 people according to current data. Arabesque made a net profit worth some 10 million euros in 2004 and a turnover worth over 140 million euros. Arabesque”s business has been very dynamic for the past 5 years, seeing an annual growth of some 60%, far higher than the market average. The company was set up in 1994 and currently distributes its products through a national network, which covers the capital and larger cities. There are also two specialised international networks operating on the construction material market – the German DIY operator Praktiker and the French network Bricostore. ZF