Phoenix turns profit in 2004

Phoenix Romania, a branch of the German Phoenix Group, began to make profits last year after losses of 18.9bn ROL in 2003, according to company manager Gunther Kulcsar. “We will maintain the upward trend this year too. The factory is doing well and results are good,” Kulcsar added. The branch of the German group that produces rubber products (excluding tyres) was established in 2000 in Carei, Satu-Mare, following around 10 million euros in investment. The company currently makes rubber products for use in the automotive industry. It has a production capacity of up to 50,000 units per day and its entire output goes to foreign clients, the most important of which being Volkswagen and DaimlerChrysler. Mediafax