EnglishAltex Group invested 2 million EUR in its first greenfield project in our country, located in Galati. The store in Galati has a surface area of 1.200 square meters and was developed in paretnership with German retailer Billa. The new Altex Megastore offers 5.000 products.
Altex is currently developing three further greenfield projects, one of which will be developed in Ploiest, in partnership with Billa. In 2007, Altex plans to open more than ten Altex Megastores. The average surface area of such a store is up to 2.000 square meters and the investment amounts to approximately 1.000 Eur per square meter. The total investment will reach 20 million EUR and the total number of Altex Megastores will exceed 50.
Presently, Altex holds 25% market share, according to the company"s CEO, Dan Ostahie, quoted by NewsIn. He estimates that the electronics and home appliances market reached approximately 700 - 800 million EUR last year, while for 2007 he anticipates a growth of maximum 10% triggered mainly by the growth in the LCD and plasma segment. On this segment, 20.000 units were sold in 2006 and the company expects sales to rise fivefold in 2007. In 2006, Altex Group posted 220 million EUR in turnover, down 20% from 2005.
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