Contracts with Ferrari help Electromagnetica up

Contracts with Ferrari and other carmakers generated an almost five-fold increase in the profit of Electromagnetica Bucharest for 2005, to 0.76 million euros (2.75 million RON). The total restructuring of the company”s production was completed last year, and led to a change in the company”s core business. Business of Electromagnetica exceeded 30.3 million euros (109.7 million RON) in 2005, double the sales seen in the previous year. The company started to deliver components to Ferrari last year. “We delivered 5,000 sets of lateral rear windows for the latest Ferrari model, and, in terms of unitary profit, it is one of our most lucrative collaborations,” added Eugen Scheusan, general manager of Electromagnetica Bucharest. Electromagnetica also delivered lamps for interior lighting for one of the Alfa Romeo models, with deliveries to the Italian Fiat cars reaching a total 200,000 euros per month. ZF