EnglishSibiu-based furniture importer Iugesti is prepared to face increased competition resulting from Romania"s accession to the EU, according to company representative Grigore Medrea. He added that the strongest prospective competitor was Ikea. Iugesti markets furniture imported from Germany and Poland and is also an international freight forwarder. According to Medrea, the company intends to give up a secondary activity, car parts retail, which currently accounts for some 10 percent of the turnover. Iugesti concluded 2006 with 21.5 million RON in turnover, up from 19 million RON in 2005, and estimates 28.6 million RON in turnover for this year, up by 30 percent yoy. Ten months through 2006, the company reported 447,000 RON in profit, with the last two months of the year being insignificant for the overall figure. The investment budget increased from 6 million RON in 2006 to 10 million RON in 2007. Part of the funds will go to the completion of a 1,600 sq.m. furniture showroom in Alba Iulia with a total value of 18-20 million RON.
Furniture Importer Iugesti, Ready For EU Competition
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Ziarul BURSA #English Section / 17 ianuarie 2007
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