Megapress anticipates 30% growth

Megapress, one of the top three players on the printing market in Romania anticipates revenues to increase by 30% this year and reach $16.5 million, as a result of a revamped publishing division and of the influence of the electoral campaign on the printery sales. Megapress also plans to invest more than $7 million in 2004 in order to buy and install a new rotary press for magazines, as well as a flatbed. “We have already attained 25.37% growth in the first quarter from the same time last year. The development is due to both the publishing division (Megapress owns Aramis and Minerva publishing houses i.e.), which benefited from resumed tenders by the Ministry of Education, as well as to the printery,” Sorin Penes, general manager and majority shareholder of Megapress said. The company has been planning to boost production capacity on the magazine segment since mid last year and attempted to take out an over $8 million loan from Banca Romana pentru Dezvoltare (Romanian Development Bank) in this regard. It chose not to work with BRD and went for another bank eventually. ZF