Deutek: Even the decision for minimal home renovation becomes a major issue

Deutek building materials producer, owned by Advent International investment fund, states that at present all consumers, including those employed in the private sector, are experiencing “a delicate psychological moment”, much more serious than the move to cut salaries and pensions. The company, a leading paint and varnish producer, last year reached turnover worth 126.1m RON (29.8m euros), up 5% in RON from 2008, and this year expects a slight increase provided the psychological moment wanes rapidly, so that the second half of the year should not lead to consumption collapse. “It’s hard to ask a consumer who is assaulted by comparisons to the Greek situation and early elections risk every day to make any decisions with a major impact over his or her budget. Against such a background, even a decision to minimally renovate an apartment gathers major investment connotations (…),” Adrian Ion, a marketing manager with Deutek, told ZF.