Paint producer Azur Timisoara, a subsidiary of ICC Industrie INC New York, estimates a turnover of 13.5 million euros for this year, some 25% more than last year. "This year, we will enter new market sectors and will launch new products in order to increase our market share to some 6%, Eugen Niculescu, marketing director of Azur Timisoara told Ziarul Financiar. The company last year witnessed an approximately 10% growth against the previous year, to 11.1 million euros. In 2004, Azur posted a net profit of some 330.000 euros. "The company''s profit did not see a rise compared to 2004 because we have had to make investments, which could not be delayed anymore, due to the need to rally to the EU legislation, as well as to the technological progress," Niculescu explains. The company exports about 20% of its production to Germany, France and Serbia. "We see exports as a potential factor for turnover growth. We intend to increase the share of exports to some 25%, for projects started in 2005, which will materialise in 2006," Niculescu adds. Azur will invest 170,000 euros this year in protecting the environment and in production technology. ZF
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