40m-euro investment plan for FM Logistic

French group FM Logistic has announced it intends to invest 30 to 40 million euros to build new warehouses on the Romanian market. “Romania is a strategic area, and opening warehouses in this area is a very big step for us,” stated G?rard Pineau, the company’s general manager for Central Europe, upon completion of a new warehouse in the capital, an investment worth 300,000 euros. The French group entered the Romanian logistics market in 2003, with its investments totalling one million euros so far. This year, FM Logistics has budgeted a doubling of its local business to 10 million euros, compared with 5 million euros in the previous year. “We are not making profit currently, we are still in the red, but we think the logistics market will soon grow, and we’ll soon have competitors,” says Jacky Gervis, co – CEO. FM Logistic, headquartered in Phalsburg, France, currently has five warehouses in Romania, three of which are in Timisoara and two in Bucharest, as well as two collection centres in Bacau and Cluj-Napoca, all of which are rented.