Gecsat will invest 6m euros to expand production

Tarnaveni-based Gecsat, a manufacturer of aluminium and PVC trim, intends to invest around 6 million euros this year to acquire and install machinery to manufacture glass mineral wool. “We intend to diversify our product portfolio as of August this year, and start to produce and sell glass mineral wool. Even though the share of exports is currently very small, less than 3% of our turnover, once we start to produce glass mineral wool, we expect 20-25% of our output to be exported,” said Cristian Marginean, general manager of Gecsat. The company closed the 2006-2007 financial year with turnover worth over 6.7 million euros, but forecasts a sales increase of 7% in 2008 compared with the previous year. According to company representatives, its competitors are Austroterm, Caparol, Isopor on the polystyrene segment, Henkel, Baumit, and Bauleiter on the adhesives segment, and Isover and Ursa on the glass mineral wool segment. The company has several individuals as shareholders, while SIF Muntenia (a financial investment company) accounts a 25% stake.