Rondocarton invests in spite of downturn

Cluj-based Rondocarton Company, a producer of corrugated cardboard packaging and plates, announced the opening of a new cardboard packaging production facility following investments worth 3 million euros. The company keeps up its investment pace despite the slower export growth caused by recession in Western Europe. The costs entailed by the construction of the hall amounted to 2.5 million euros, with the remaining 0.5 million euros used for the acquisition of a new gluing machine. Rondocarton was set up in February 1998 by Austrian company Rondo-Ganahl and posted turnover worth 20 million euros in 2002, 43% higher as compared to 2001 (14 million euros). For this year, the company expects a 10% rise of its turnover to 22 million euros. Rondocarton plant is situated in S=nnicoara-Apahida locality, Cluj County. The slower growth pace of the turnover posted this year against last year is mainly due to the worse economic situation in Western Europe, the main destination of the company’s exports. Following expansion, the Austrian company’s investments in Romania total 20 million euros. ZF