Promex Braila: fewer employees, higher income

Industrial equipment producer Promex Braila, a part of the industrial group Uzinsider, last year posted a turnover worth 59.7 million RON (16.5 million euros), a 10% increase in euros compared to 2004. However, the company”s sales in RON were slightly lower than the figures for the previous year. In 2004, Promex had posted a turnover worth 61 million RON (15 million euros), almost 50% more than in 2003, when the company”s business stood at 38.8 million RON (approximately 10 million euros). The company”s net profit increased some 12-fold, from 2,500 euros in 2004 to 29,600 euros in 2005. Last year, the company took steps to cut expenses, especially wage expenses, by cutting the number of employees by almost 150 people. Last year Promex had 1.362 employees, as opposed to 1,510 at the end of 2004. Company officials could not be contacted before this issue was ready for print to provide more details on these results. ZF