Titeiu, Arcon: We expect market rebound in 2011

Ioan Titeiu, 52, owner of construction materials manufacturer Arcon based in Sfantu-Gheorghe, believes the market on which he operates is not going through a crisis and that a decline was predictable after the 2005-2008 boom.

“The Romanian economy has always had ups and downs after 1990 and the current stage would have come anyway, even if the global crisis had not happened. We had been accustomed with very high, abnormal increases in sales. We do not see ourselves as a going through a crisis, it is more like a psychological thing because of the negative information on the foreign markets,” Titeiu explains.

The Romanian entrepreneur owns a business worth about 86 million RON (20.3 million euros) a year and employs 160 people. The company expects 10% growth to 95 million RON this year.

“I believe the construction market will rebound soon, if not in the second half of the year, then in 2011,” Titeiu says.