SEWS derives 75m euros from wiring

Automotive company SEWS (Sumitomo Electric Wiring System), estimates its turnover for this year to stand at some 50 million pounds sterling (75 million euros), an increase of 30% on 2004. “The 2005 development could have been more substantial, due to the investments we made in boosting production capacity, but in Romania there are still risks generated by the fluctuation of the exchange rate and by the legislative instability, despite stabilisation of the market over the last few months,” stated Florin Ionut, SEWS Romania”s administrative and financial manager. The automotive wiring manufacturer posted more than 30 million pounds sterling sales in 2004, with all its products sold abroad. Its suppliers in their turn are companies operating outside Romania, because they are the only ones that have all the quality certifications in this field, as the company management says. The manufacturer intends to develop a partnership with international Citroën-Peugeot group in 2006, after having seen its production of electric cables for some of the leading carmakers of the world (Honda, Renault-Nissan, Toyota, Ford-Mazda) constantly increase. ZF