3M Romania, the local branch of the US technology giant 3M, saw its turnover in dollars for the first three quarters of this year increase by 17%, according to Wayne Garrett, general manager of 3M Romania.
3M is active in a wide range of fields - from telecommunications to construction - but is best known for having invented transparent adhesive tape.
"In the first three quarters this year we saw an increase of 17% compared to last year's figures, 10% higher than the target we set early this year. Demand this year has surged in all our fields of activity, though particularly in the industrial sector where we make products for the car industry, and adhesive and abrasive tapes. At the same time, labour and environmental protection products grew exponentially by 84% after Romania began to align itself with European Union environmental and labour protection standards. The health services department was less dynamic due to a lack of investment in this area," explained the head of 3M operations in Romania.
3M expects turnover to increase by 15% for the whole of 2004. Last year, 3M Romania closed deals worth around 21 million dollars, implying it expects to reach 24.2 million dollars this year. Net profits last year were 156 billion ROL (around 4.7 million dollars), according to Ministry of Finance data. 3M currently employs 50 people in Romania.
georgiana.stavarache@zf.ro
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