Areva budgets caution for 2005

Areva T&D, the local subsidiary of French energy group Areva expects 24 million-euro turnover this year, the same as last year. “The company’s budget for 2005 is a cautious one, considering the development of the market of equipment and services (for transport and distribution of electricity, T&D i.e.),” George Iacobuta, chief executive of the company told Ziarul Financiar. Areva’s T&D portfolio in Romania was acquired from French Alstom Group in 2003 following an international transaction that took effect on the domestic market early last year. Areva T&D employs 6 people in Romania. The company’s portfolio includes such clients as Transelectrica, Electrica, Termoelectrica or Hidroelectrica, with a department for turnkey projects to target industrial clients on the Romanian market scheduled to be established this year. The market of potential clients for electricity T&D equipment is estimated at 40-50 million euros by the French company officials. ZF