Coilprofil invests another 5m euros in plant near Ploiesti

Coilprofil Romania, the local division of the Belgian group Coilprofil, has announced that it will increase the investment budget allocated for expanding production capacities at its plant in Ceptura, Prahova county. Following the production increase, Romanian investments in Coilprofil are expected to reach 13 million euros by the end of 2009. "We decided to boost our investments in Romania as the consumption of construction materials has seen a significant increase over the last few years and due to the fact that our team generated a rapid increase in sales," stated Phillippe Somers, general manager of the Coilprofil group. The 2008-2009 period will see the fourth stage of the investments conducted by the group in Romania. The programme includes the acquisition of equipment in order to diversify the product range. Coi lprofil estimates a 12 million-euro turnover this year, up 70% on last year. The company has recently completed a 4 million-euro investment in a production facility in Ceptura, which produces insulating panels, called sandwich panels containing mineral wool and polystyrene.