Mobex turnover shrinks

Furniture maker Mobex is facing competitiveness issues, joining the ranks of many companies privatised by the MEBO (management and employee buyout) method. Considering the employees’ association is the company’s main shareholder, which means there are no powerful investors to come up with hefty funding, the company is in dire need of large investments that can lead to a productivity increase. “Turnover will amount to 12.12 million dollars in 2002, as compared to the $12.9 million posted last year, which accounts for a six-percent drop, because of the smaller number of orders from the Western markets in the second half, triggered by the economic slowdown in the EU,” Maria Butnaru, Mobex deputy general manager told Ziarul Financiar. ZF