Timisoara-based paint producer, Azur, a branch of ICC Industrie INC New York, in the first six months of the year registered turnover worth over 4.7 million euros (17.1 million RON), up 7% from the corresponding period of last year.
However, the company officials estimate that growth will be bigger in the second half of the year, given the broadening product portfolio. The company last year posted 10% turnover growth year-on-year, up to 11.1 million euros. Early in the year, Azur management had estimated that turnover would reach 13.5 million euros in 2006.
"Though the first three months are not significant in terms of figures, given the seasonal character of sales of decorative paint, the first indication of growth emerged as soon as March, once we launched the new product portfolio," Eugen Niculescu, marketing manager of Azur Timisoara, told ZF Transilvania. He chose not to provide any data on the projected growth of turnover during the second half of the year, but specified Azur would reach a market share of around 6% this year.
In recent years, the Timisoara-based company has seen constant growth, primarily generated by the rising sales on the foreign market. Thus, while in 2003 Azur's exports accounted for only 15% of total production, last year's exports doubled, with the company's management expecting exports to account for 25% of turnover this year. "The main objective for this year is related to expansion on the foreign market and to increased distribution," Eugen Niculescu said.
Since 1999, investments in Azur Timisoara have amounted to approximately 7 million euros. They were meant to improve technological aspects and know-how, but were also aimed at human resources and environmental protection, areas that are also important for the Timisoara-based producer.
This year, Azur will invest 170,000 euros in environmental protection and production technology. Particularly addressing furniture manufacturers and firms operating in the civil and industrial construction markets, Azur's main customers are domestic and foreign companies, tyre manufacturers and furniture producers.
On the domestic market, the firm has a good working relationship with the Bricostore and Selgros networks. "We want to strengthen our collaboration on this segment, and by the end of this year we plan to enter talks with other stores as well," Niculescu also said.
Azur started operating in 1844 in Timisoara and in 1999 ICC Industrie InC NY bought the majority stake of 86.7%, with the rest of shares (13.3%) being held by natural and legal persons.
Azur Timisoara
A branch of ICC Industrie INC New York
In H1 posted turnover worth over 4.7m euros, up 7% from the corresponding period of last year
Growth is expected to be bigger in H2 amid the development of the product portfolio
In recent years the company has enjoyed constant growth, primarily triggered by rising sales on the foreign market
Since 1999 has invested around 7m euros in technological improvement, as well as human resources and environmental protection.
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