Altex To Invest 1.5 Mln RON In Waste Appliance Collection Project

Appliances retailer Altex is going to invest some 1.5 million RON in a project to motivate consumers to recycle waste appliances and IT&C equipment. The project will be developed in partnership with the Eco Tic Association, Altex CEO Dan Ostahie announced. "Altex is a link in a long chain of collecting waste electronics and appliances. This project is intended to caution both consumers and the State as to the fact that the market is growing, but we do not have the mechanism to handle such development," Ostahie told NewsIn.

Altex has announced that the first 10,000 customers to bring in an old TV set for recycling to the Media Galaxy store in Colentina will receive a coupon worth 150 RON and usable to make partial payment for a new TV set. The offer is valid between June 8th - 30th.

Referring to sales, Ostahie said the target for this year remained valid. "This is a time of transition, considering the ongoing technological changes and adjustments required by the EU integration process. It is possible that we may revise the turnover estimate, but this is highly dependant on summer sales. I believe the fluctuation will not exceed 5-10% of the estimate 275 million EUR turnover," Ostahie said.

The company concluded Q1 with 50 million EUR in turnover, up 13% year-on-year. Last year"s turnover declined 20% year-on-year to 220 million EUR amid organizational changes. Altex operates the retail chains Altex and Media Galaxy. The Media Galaxy network comprises 14 stores totaling 35,000 square meters.