Asset sale could bring Romcarbon into the black

Romcarbon Buzau, one of the leading manufacturers of plastic sheets and profiles, estimates a 90.6m-RON (25.64m-euro) turnover for this year, a similar level to last year’s. In 2007, the company’s turnover doubled, from 45.6m RON (12.90m euros), but the company reported losses worth almost one million RON (283,000 euros), compared with the 4.8m-RON (1.35m-euro) profit derived in 2006. “For 2008, we have estimated a 90.6m-RON turnover, a stagnation from last year, and a profit that resulted from consolidated financial results, which include those of the other companies where Romcarbon has stakes worth 11m RON (3.11m euros). The profit forecast also considers that part of the overall credits have been repaid with funds attracted from the sale of assets unrelated to production activities,” says Ileana Banucu, general manager of the company.