Comelf Bistrita Invests 1 Mln EUR To Modernize Technological Equipment

F.A.
Ziarul BURSA #English Section / 1 martie 2007

For 2006, Comelf Bistrita reported total revenues of 100.420.530 RON, up 24,6% yoy and a gross profit of 4.246.485 RON, up 34% yoy, according to Dorin Stoian, CEO of the company.

Between 2003 and 2004, the company acquired equipment worth approximately 400.000 EUR per year, while in 2005 and 2006, investments amounted to approximately 1.400.000 EUR per year. This year, the company will invest 1.000.000 EUR and will continue the modernization of technological equipment. Also, the implementation of the integrated information system for the company"s management will be finalized this year.

Due to falling domestic demand, the company focused on exports. Thus, exports grew from 29% of Comelf"s output in 1991, to 87% in 2005 and 93% in 2006.The income and expenses budget for this year involves a minimum 10% growth in output, turnover and revenues and a 53% rise in gross profit.

Comelf SA Bistrita operates in the auto industry and its shares are listed on Tier II of the Bucharest Stock Exchange, under the symbol CMF, as of November 20th 1995. The majority shareholder is Uzinsider S.A. Bucuresti, holding 76,63% in the company.

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