SEWS increases capital

Sumitomo Electric Wiring System (SEWS), a manufacturer of wiring for the automotive industry, has conducted a capital increase operation of 4.2 million euros. “This capital inflow is required for the continuation of investments in Romania, It is mainly for the new production facility in Alba Iulia, as well as the fixed assets and equipment in the production centres in the Hunedoara and Alba Counties,” Florin Ionut, SEWS Romania’s administrative and financial director, told ZF Transilvania. “The capital increase will allow us to attain our 2005 goals because by having used it for the construction of a new facility, our production capacity will increase,” Ionut specified. SEWS Romania announced a 24-30 million pound turnover in sterling (35-44 million euros) for this year, and 2005 estimates point to a 70 million pounds sterling (100 million euro) turnover for all its three centres in Romania. The company has three production facilities in Romania: in Deva, Orastie and Alba Iulia, the most important of which is Deva, whose production capacity is twice as high as the other two. ZF