Infrastructure works bring Electrogrup 20m euros

Cluj-based Electrogrup, which builds electrical infrastructure projects, as well as telecommunications and civil engineering projects, estimates turnover worth over 20 million euros this year, up 50% compared with last year. According to company management, growth plans require new funding, which is why one of the main objectives of Electrogrup for 2008 is flotation on the Bucharest Stock Exchange. The company closed the 2007 financial year with turnover worth over 13 million euros, up by over 50% against 2006. Electrogrup’s plans for 2008 include new investments to boost the company’s potential in all three fields, as well as improved production at all 6 production facilities, and an increase in the range of services offered. Electrogrup is entirely Romanian-held, and is owned by brothers Teofil and Simion Muresan, as well as a few other shareholders who occupy managing positions in Electrogrup. The company was set up in 1997, with the first works being electrical low voltage installations.