Vrancart business up 26%

Paper and cardboard manufacturer Vrancart Adjud posted a 46.9 million-RON (13.3 million-euro) turnover in the first nine months of this year, an approximately 26% rise against the 37 million RON reported in the corresponding period of 2005. The company’s net profit advanced by 13.4%, to 4.72 million RON (1.33 million euros) over the nine-month period. Total revenues increased 23%, to a total of 48.5 million RON, while expenditures rose 25%, to 42.9 million RON. Vrancart numbered 767 employees as of September 30, a slight increase against the 761 at the same time last year. Vrancart budgeted 2 million euros for investment this year, directing financing towards technology, the construction of a new warehouse, building and fitting integrated raw material (scrap paper) centres and finished products centres in Bucharest, Iasi and Focsani and in expanding their vehicle fleet. According to its own estimates, Vrancart has an approximately 23-25% share of the toilet paper market. The company’s competitors on this segment are Calarasi-based Comceh, Piatra-Neamt-based Petrocart, Scaieni-based Cahiro and Bacau-based Letea. The company also operates on the corrugated cardboard market, where it holds a 12% share, according to the company’s estimates.