GreenForest and Samas form joint venture

Timisoara-based furniture manufacturer GreenForest will develop a joint venture with the Dutch firm Samas Office, which operates on the office furniture market. “The partnership contract for the Samas Office Romania joint venture between GreenForest and the Samas Group will be signed this January. The development of the Romanian real estate market, and especially that of class A offices in addition to the large number of projects nearing completion, justifies this partnership,” stated Cristian Florea, the general manager of the company. Half of the share capital of the new entity will be held by the Romanian party. Samas is one of the leading manufacturers of office furniture in Europe, with some 2,700 employees and 360 million-euro turnover per annum. GreenForest posted approximately 3 million-euro turnover last year, which accounts for growth of more than 35% in comparison to 2004. ZF