Magnetto Wheels turnover up 21%

Car rim manufacturer Magnetto Wheels Romania posted a net turnover worth 90.24 million RON (25 million euros) last year, 21.4% higher than in 2005, when it reached 74.31 million RON. During this period, the company’s profit surged by 29.1%, from 8.4 million RON reaching 10.85 million RON (3 million euros). Around half the products manufactured by Magnetto Wheels Romania is exported, while the other half is distributed on the Romanian market, in particular to Automobile Dacia and Daewoo Automobile Romania. Italian-based Fergat SpA, a division of the Magnetto Wheels group, purchased 50.87% of the shares of Roti Auto Dragasani (Car Wheels Dragasani) in 2000. The value of the transaction, which consists of the price of the stake and the investments made, amounted to 8.6 million euros. In addition to FergatSpA, the group also includes Gianetti Ruote and Magnetto Topy Wheels. The other divisions of the Magnetto group are involved in manufacturing car bodies and car body components for vehicles. Magnetto’s leading customers are Fiat, Renault, Volvo, Saab, Honda, Rover, Iveco, Daimler-Chrysler, Nissan, Pinifarina and Mitsubishi.