Green light for fourth Media Galaxy

Altex has opened a fourth Media Galaxy electronics and home appliances store, following a 5 million-euro investment in addition to the over 3 million euros set aside as working capital. With an area of over 5,000 sqm, the new store is located in Bucharest’s Orhideelor area and is the largest store of the entire Media Galaxy chain. The Media Galaxy project was developed together with Bricostore Romania, which opened a 10,000 sqm DIY store after 10 million euros in investments in the same location early in November. The Altex Group, which is controlled by businessman Dan Ostahie, plans to have 14 Media Galaxy stores in Romania by the end of 2006. ZF