P&G expects 10% higher turnover

Procter & Gamble Romania anticipates full-year turnover to increase by more than 10% from the $140 million logged for 2003, chief executive Matthew Price said on Thursday. He explained that the company had tripled production at its detergent factory in Timisoara over the last three years. The facility also serves as a distribution centre for Romania, Bulgaria and some of the former Yugoslavian countries. “We intend to go ahead with investments but the plan is up to the signing of the free trade agreement between Romania and Serbia,” Price added. The start-up investment in the facility in Timisoara was worth $25 million. The Procter & Gamble representative says the market (detergents, shampoo, toothpaste etc.) wherein the company operates is constantly increasing and is expected to progress by up to 10% this year. ZF