Rondocarton cuts investment plan

The management of Cluj-based company Rondocarton has announced a change in its investment strategy for this year, cutting by half the amount initially scheduled due to orders from clients, most of which are exporters, being lower than expected. Exporters have been hit by the weakening of the euro. “This year we intended to invest two million euros in retooling and upgrading, but we have decided to invest only half that amount. If things get better we will start investing again,” general manager Teofil Campean told ZF Transilvania. He said the financial results would also be affected, with turnover set to stay at the same level as last year at 20 million euros, in the best-case scenario, or fall to 19 million euros at worst. ZF