30m-euro business for Losan

Losan Romania, which operates in the furniture industry, announced that it had posted a turnover worth 110.6 million RON (30.5 million euros) in 2005, a 21% increase against the previous year. On the other hand, the profit of the company, which is a part of the Spanish group of companies Grupo Losan declined by almost 9% last year, to 11.2 million euros (3.09 million euros). In Romania, Losan owns a plant in Ghimbav, near Brasov, where it anufactures veneer for the furniture industry.

Work on this plant started in 2000 and investment had amounted to some 4 million euros.

This plant started production in November 2001.

Last year, the company announced a second investment in Romania, in Bucharest, where it would manufacture melamine-faced panels and kitchen countertops for the Romanian market. Company officials did not wish to specify what the investment amounted to at the time. In 2005, some 80% of the company”s output was exported to another company, which is a part of the Spanish group. ZF