Rolast Pitesti misses targets

Rubber parts maker Rolast Pitesti concluded 2004 with more than 890,000 euros (36.2bn ROL) in losses, compared with 59,000 euro (2.2bn ROL) profits in 2003. Net turnover fell 5.25% to 20.5 million euros (830bn ROL), compared with 21.6 million euros (811.8bn ROL) in 2003. The spending and revenue budget for 2004 shows Rolast’s management was expecting a turnover of 22.6 million euros (917.9bn ROL), 10% more than what was actually achieved, while net profits should have reached 0.95 million euros (38.54bn ROL). Company officials could not be reached for comment. Financial operations generated losses of 0.47 million euros (nearly 19bn ROL), over 42% lower than in 2003. The company owes 6.73 million euros (239bn ROL) and is owed 3.63 million euros (129bn ROL). Rolast Pitesti is the largest manufacturer of rubber parts for industrial use in Romania. ZF