Corina Gealan misses target

PVC profile and thermo-insulating glassmaker Corina Gealan expects its turnover to grow by 22.5% this year to 7.6 million euros, company officials estimate. The company ended last year with 11% growth, below its 20% target, due to clients taking more time to assess the products and services on offer. The market for thermo-insulating glass, also known as thermopane glass, witnessed only 10-15% in growth in 2004, almost half the initial estimates. As a result, sales of thermopane glass last year amounted to 530-550 million euros on a very fragmented market. Corina Gealan achieved a 21% profit rate, with the company management relying on profitability to maintain the same level against higher sales. Thermo-insulating glass is a building material that established a presence on the Romanian market after 1990, managing to create a market from scratch with annual sales of half a billion euros. This business has attracted around 2,500 companies, some even branching out from other industries such as Oltchim Ramnicu Valcea, a chemical and petrochemical company. As a result, the market is very fragmented. The main players on the market include Corina Gealan, Far Est, Suki and Lipoplast Timisoara. ZF