Faur close to making profit

Faur Bucharest could start turning a profit this year, given that monthly losses have gone down to less than 10% of the 40bn ROL in mid last year, when the company was taken over by a consortium led by Begacom Bucharest, a member of the Bega Group. “Losses in December 2004 were down to less than two billion ROL. We plan to start making profit as of February, and estimate at least 60% turnover growth,” said Marius Cristescu, one of the shareholders of the Bega Timisoara Group. He did not specify the turnover Faur posted for 2004, mentioning that the nearly 13 million-euro goal had not been attained. Rolling stock manufacturer Faur was acquired by a consortium comprised of Laminate Bucharest, Relco Bucharest, Rafinaria Astra Romana Ploiesti and Begacom Bucharest in late 2003. ZF