Search Corp: We have lower costs than Western companies

Search Corporation, one of the biggest companies specialising in consulting and management of infrastructure projects in Romania, closed last year with an 8.8 million-euro turnover, up 50% against 2005. It also posted a net profit worth 550,000 euros, against 730,000-euro losses in the previous year. Company officials explain the fall in 2005 on the impact of external factors, as well as of unfavourable circumstances in the market, which led to the several projects of the company being terminated. In comparison, the upward trend in 2006 is attributed to the very good dynamics of the infrastructure market. “2006 was a year when the importance of investing in infrastructure became apparent and when more projects than in previous years were started,” Michael Stanciu, president of Search Corporation told ZF. Currently, the company has over 200 projects in its portfolio, the most important of which is updating the Feasibility Study for the Bucharest-Brasov highway. For this year, Search Corp has budgeted a 14 million-euro turnover, an over 50% increase against that of 2006. The company wants to diversify its activity in the future, by becoming involved in the civil engineering and the airport building. Stanciu says Search Corp is interested in expanding its operations outside Romania, as well. “International expansion is an important component to our company’s strategic plan. Our costs are still lower than those of Western companies, and the skills of Romanian engineers are at least comparable with the skills of our Western competitors”.