Arctic reports 15m-euro gross income

Arctic Gaesti, the biggest home appliances producer on the domestic market posted a 14.91 million-euro (52.57 million-RON) gross profit last year, up 15.5% on the 12.9 million euros seen in 2005. Business last year reached 196 million euros, with company representatives explaining the 30% rise by an increase in exports and the entry onto new markets. Sales on the domestic market were responsible for the majority of the turnover (106 million euros). For 2007, the company targets a 225 -230 million-euro business and plans to manufacture 1.3 million refrigerators, 70% of which will be exported. In the first quarter, the company posted an approximately 42 million-euro turnover, up 24% on the same period last year. Arctic Gaesti currently hires 2,000 people, after the Gaesti-based team was boosted by around 400 staff in 2006.