Atlas Corporation, a Greek producer and distributor of construction materials, forecasts turnover will reach 34m euros this year, about 36% higher year-on-year.
"Atlas Corporation is growing due to the rising consumption of construction materials in recent years and to economic stability. By comparison, between 1994-2000, we had to cope with losses amid the decline of the domestic currency, which was hurting imports," Nikolaos Sitinas, Atlas Corporation's chairman and majority stakeholder, told ZIARUL FINANCIAR.
Atlas Corporation last year posted net income worth 1.9m euros, and turnover standing at 25.3 million euros, up 65% year-on-year, in line with data presented by the company.
"We have invested some 24m euros on the Romanian market so far, including capital contributions and the profit we have reinvested since we arrived on the market," specifies Sitinas.
The company last year spent 3.5-4m dollars (2.8-3.2m euros) to build a 10,000 sqm warehouse near Pipera highway.
Atlas Corporation manufactures and distributes paints, as well as thermo and hydro-insulating products.
Beside construction materials, Atlas Corporation also distributes Fujifilm, Sharp, Sony and SanDisk photographic products.
"We are launching new products each year, to boost our market position," Sitinas maintains.
The Greeks entered the Romanian market in 1994, operating as importers, exporters and distributors of construction materials.
The company currently has eight branches in Bucharest, Timisoara, Cluj, Timis, Braila, Constanta, Brasov and Craiova. Atlas Corporation has 275 employees.
The market of decorative paint, which accounts for the biggest share of Atlas Corporation's business, will this year revolve around 115m euros, up 15% on 2005, according to market players.
Atlas Corporation
Entered the Romanian market as an importer, exporter and distributor of construction materials
Last year posted net income worth 1.9m euros and turnover standing at 25.3m euros, up 65% year-on-year
Has invested around 24m euros on the Romanian market
Estimates turnover worth 34m euros for this year, up 36% on last year.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
