Aircraft engine subassembly manufacturer Turbomecanica Bucharest registered 90bn ROL (2.2 million euros) in net profits in the first nine months of the year, up 83.6% in ROL since the same time last year. This represents a growth in euros of 66%. Its turnover came to 638.1bn ROL (15.6 million euros), 31.4% higher in ROL or 18.7% higher in euros than for the first three quarters of 2003. Company officials say Turbomecanica’s good results are the result of the better organisation of the manufacturing process achieved by applying a modern cost-cutting technique called 6 Sigma. In July Turbomecanica signed a contract with Rolls Royce to manufacture and supply parts and subassemblies for aircraft engines. Question on the value of the deal, company officials said only that the contract was worth “some millions of dollars.” ZF
Pharmafarm expects sales of 20m euros
Pharmafarm, a main player on the domestic drug distribution market, expects to achieve 20.7 million euros in turnover by the end of the year, up from the 17.4 million euros it saw in 2003. Turnover for the first nine months of the year amounted to 15 million euros. “The main reason behind this growth is our sales policy and the broadening of our client portfolio,” explained chief executive Marius Chereches. According to its own estimates, Pharmafarm was the eighth largest distributor on the market in the first three quarters of the year. Its sales come almost entirely from the retail market (drugstores), with sales to hospitals accounting for a very low share of Pharmafarm operations. The company’s market share in drugstore sales reached 3.35% in late August, according to data from Cegedim, a market research company. ZF