Korsnas revenues climb 25%

Korsnas Packaging Ploiesti, a manufacturer of corrugated cardboard, saw its turnover grow 25% from 2003 due to the increases in consumption in the food industry and construction supplies. “We estimate that the rate of growth of turnover will continue in 2005, and could even be higher, due to the tax cuts, which will generate higher consumption from the population, the effects of which will show in three or four months,” said general manager, Sorin Constantin Ghita. Korsnas’s turnover for 2003 was in the region of 4.8 million euros. The company is currently implementing an investment project worth around 1.5 million euros for a new production line that will mainly make packaging for the food industry. Packaging for cement and construction supplies should account for a higher proportion of Korsnas’ turnover in 2005. Aside from this, Korsnas is also implementing European Union standards for food industry packaging. ZF