SEWS estimates over 100m-euro turnover

The management of SEWS (Sumitomo Electric Wiring System) estimates turnover will top 100 million euros, though stagnating this year. During the 2002 – 2005 period, the company had seen its financial indicators grow steadily by over 60%. In 2006, the company posted a 107 million-euro turnover, up 12% from 2005. “We managed to post higher turnover despite the difficulties on the European automotive market, the surge in raw material costs and the constant artificial appreciation of the domestic currency. Then there was also pressure to accelerate the growth of wage-related costs last year, which vastly exceeded limits imposed by the level of inflation and of work productivity,” Florin Ionut, administrative and financial manager of SEWS Romania, told ZF TRANSILVANIA.