IMGB in the black

Turbine producer Kvaerner IMGB Bucharest has become profitable in the last months, as the company managed to cut losses five times in H1. “Our activity became profitable after the first half,” general manager Florin Antonescu told Ziarul Financiar. In the first six months of the year, IMGB posted losses worth 29bn ROL, down from 149bn ROL in the year-ago period. The loss cut occurred as the financial results saw a significant improvement. Moreover, electricity and raw material expenses decreased, which also helped the company recover. ZF