Frigotechnica expects 50% growth

Frigotehnica, one of the leading players on the refrigerating equipment and installations market, expects turnover to reach 20 million euros this year, an increase of 53% on 2004. “The growth pace in the first five months of the year is in line with the business plan for 2005. I estimate we will grow even further in the second half, seeing as only two of the retail chains set to open this year were completed in the first half. The rest of them are to be equipped soon,” Nicolae Bara, the current counsellor of the Frigotehnica Group, stated. (He used to be chairman, but incompatibility with his position as MP for the Democrat Party made him adopt a counsellor role during his term). Bara added that Frigotehnica Group, which expanded by inclusion of a media business (Frigo Media) and a printing company (Frigo Print) this year, would see full-year turnover of 30 million euros, twice higher than in 2004. “The group”s turnover will be 150 times higher this year than at the time of privatisation, in 1995,” Bara said.