32-m euro business for Condmag Brasov

Condmag Brasov, a company specialising in the building of ducts, saw an increase by some 50% of its turnover last year, to 32 million euros, according to company representatives. The same sources said Condmag handles 25% of the projects involving duct building. The company”s rivals include Petroconst Constanta, Inspet Ploiesti, TMUCB Bucharest, AMI Baia Mare, IMI Baia Mare and TIM Cluj. Condmag has already contracted projects worth 100 million RON (27.7 million euros) for 2006. The managing team forecasts an increase in turnover for 2006 by taking part in works to build transport pipelines and natural gas distribution networks across the country, as well as by contracting works to build pipelines and distribution networks abroad. Condmag”s portfolio of clients is mostly made up of companies from the gas sector – Transgaz Medias, Romgaz Medias, Distrigaz Bucharest and Distrigaz Targu Mures. Along with an increase in its turnover, the company doubled its profit in 2005, reaching some 2 million euros. ZF