Electromagnetica posts record net income

Electromagnetica Bucharest posted net income worth 0.87m euros (3.09m RON) in H1, 2006, 15% higher than the entire 2005 income. Turnover doubled, from 11.4m euros (40.6m RON) to 22.8m euros (83.6m RON). Last year, the company registered turnover worth 30.2m euros (109.7m RON), double the level of 2004. Electromagnetica early this year changed its area of operations, from the production of telecommunications equipment to the production of measurement, check-up and control devices and instruments. Electrical equipment and subassemblies for carmakers account for the bulk of the company’s turnover. Electromagnetica delivers car parts to major carmakers such as Ferrari, Alfa Romeo, Fiat and Dacia-Renault.