Energobit gets closer to 45 million-euro turnover

Cluj-based Energobit Group that operates in the field of electrical equipment manufacturing announces an about 45 million-euro turnover for this year, an increase of 12% on 2005.

The group concluded 2005 with a 40 million euro turnover, 14% higher than the initial estimates, according to the financial results, which were released yesterday.

The group set out to launch two new products for energy distribution and energy efficiency projects this year.

“The energy efficiency products – from public lighting to heating have a very significant market in Romania, with the energy saving potential standing at around 35% of current consumption,” stated Peter Pal, Energobit vice-chairman.

The medium voltage cells alone, a product designed by Energobit itself, generated sales of over 3 million euros last year, exceeding initial estimates by 100%.

“Considering the fierce competition on the market, where all the major equipment manufacturers are present, we were rather pessimistic about (the prospects of) selling our own products. It came as a great surprise to us to see that our products were successful on both the domestic and the foreign market,” Energobit vice-chairman said.

The group”s equity capital stands at more than 5.1 million euros, and works on the new industrial automation factory started last year, which is located in the Tetarom industrial park in Cluj.

The officials of the company say that the plot of rented land is 12,000 square metres wide and the production facility will take up 4,500 square metres. The building will also comprise 2,500 square metres of office space, with the deadline for completion set for November this year.

“We chose this location because of the high-tech facilities, the access to communication via the Internet and the business security,” Peter Pal stated.

Energobit

* Turnover in 2005 was worth 40 million euros, 14% higher than initially estimated

* Plans to launch two new products aimed at power distribution and energy efficiency projects

* Derived over 3 million euros in sales from products of its own design last year, 100% more than expected

* Estimates to account for 9-11% of the electrical equipment market