Sanex expects double net income

Ceramic tile producer Sanex Cluj-Napoca has revised its budget for this year, counting on net profit of 223.9 billion ROL (5.3 million euros, calculated against an average exchange rate of 42,000 ROL/EUR for 2004), twice higher than last year. After the Austrians at Lasselsberger took over Sanex, Mondial Lugoj and Cesarom Bucharest, the management of these companies will suffer some changes over the following period. “So far, sales of ceramic tiles have exceeded both the volume and the value of sales registered last year,” Stefan Bucataru, general manager of Sanex Cluj commented for Ziarul Financiar. The Austrian group this spring bought Goodison Holdings investment vehicle, which held 67.64% in Sanex, in a deal worth about 15 million dollars. The acquisition of the three large domestic producers marked the entrance of Lasselsberger on the Romanian market in full gear. ZF