Carbid Fox sees end to losses

Carbid Fox Tarnaveni Group, Romania”s only producer of carbide, expects to step into the black in 2005, after last year making losses in excess of 25.6bn ROL (approximately 785,000 dollars), according to an announcement by the company sent to the Bucharest Stock Exchange. However, due to the depreciation of the dollar against the ROL, the company”s management has announced 1.5 million dollar (43.5bn ROL) losses for January. For this year the company expects to make net profits of 12.6bn ROL, with total revenues amounting to more than 954.3bn ROL. For 2004 turnover reached 1,003bn ROL (more than 32 million dollars), compared with 674bn ROL (20.6 million dollars) in 2003. Carbid Fox Group comprises Carbid Fox, Carbid Conmet, Carbid-Gaz, Carbid-Com, Carbid-Trading and General Construct. Mediafax