60% increase in Romcab sales

Romcab Targu Mures continues to report significant rises in sales and profit, even though having been placed in receivership. According to the latest available data, only 10% of the companies under administration manage to escape bankruptcy. Targu Mures-based manufacturer of conductors and electric wiring, posted a turnover worth 9 million euros in the first eight months of this year, a 60% growth against sales in the similar period of last year. The company has budgeted a turnover worth 14 million euros (over 50 million RON) for this year, an almost 65% increase against 2005. Last year, company sales stood at 8.52 million euros (30.9 million RON). The wiring manufacturer went into administration at the end of 2004 due to having guaranteed for companies that were part of the Paneuro Group, the majority shareholder. The sales growth was prompted by the increase in exports, mainly to manufacturers from the automotive sector. According to company representatives, exports doubled in the first eight months of 2006, due to a tightening of the relationship with customers on the markets in Italy, Hungary, Germany and Denmark.