Turnover down for Sinteza

Sinteza Oradea has posted preliminary net profits of approximately 200,000 euros (8bn ROL) for 2004, up 15% on 2003. Turnover dropped slightly to around 3 million euros (125bn ROL), however. Sinteza representatives declined to comment on the results. The company makes pesticides, paints and varnishes, pharmaceutical products, metallic and paper packaging, as well as full painting systems. Their paint products are both for protecting surfaces against the weather and corrosion and for decorative purposes. Last year Sinteza acquired over 90% in Chimprod Oradea, a company involved in the same industry. The group’s forecasts for 2004 showed total sales of 6 million euros for the two companies. The company posted losses of 22,000 euros for the first quarter of last year due to a temporary production halt in January. It managed to recoup the losses by mid 2004, however, generating some 150,000 euros in H1 profits. ZF