Cristescu sees business going down 10%

Marius Cristescu, one of the main Romanian industrialists, whose business stood at 200 million euros in 2008, is pessimistic about the rebound prospects of the economy this year, expecting business to go down by 10% in 2010, after a 25% decline in 2009.

“We will most likely see a 10% decline in 2010, because January and February were completely frozen. Let’s see what happens with exports, because there will still be a lot of bankruptcies on the domestic market and if it’s a client or supplier it affects you,” Marius Cristescu says.

He and his brother Emil Cristescu control the Bega group, which posted some 131 million-euro revenues in 2009, with the most important businesses being oil drilling, industrial space rental, equipment manufacturing, trade, tourism, real estate and transport. Besides Bega group, the two own significant stakes in various companies.