Rolast triples losses

Rubber parts manufacturer Rolast Pitesti posted nearly 1.4 million euros in losses (5 million RON) in the first three quarters of this year, over three times higher than the losses seen in the same period last year. The higher losses came amid a decline in turnover. Rolast registered 12.6 million euro (45.59 million RON) turnover from January through September 2005, 20% lower than last year. Rolast”s turnover was lower because of the appreciation of the RON against the euro, which eroded the value of the company”s revenues. The results were also related to Renault”s decision to stop manufacturing the Solenza brand earlier than initially scheduled, the company officials explain in a report filed with the Bucharest Stock Exchange. ZF