The companies that received awards during the "Most DynamicCompanies" event saw their sales go up by 23.2% in 2008, at a lowerpace than in previous years, as a result of the start of theeconomic downturn.
The event, organised by ZF together with Enterprise Investorsprivate equity fund manager, at its second edition this year, givesawards to Romanian entrepreneurs' companies with the highestturnover growth rates.
The most spectacular increase among firms to which ZF gave awardslast year was registered by Build Corp company controlled by GeorgeIvanescu, one of the most discreet businesspeople of Iasi, whichgenerated 485.9m RON turnover, up 81% from last year and net incomeworth 21.9m RON, according to Finance ministry data.
In recent years, the company has been involved in the constructionof the four malls of Iulius Group, as well as of Palas Iasi mixedreal estate project. This year, the company expects turnover toshrink amid the falling demand in the field of constructions. Atpresent, the company has 475 employees, compared with 591 at thebeginning of this year.
ZF together with Enterprise Investors will further give awards tothe highest-performing companies in Romania during conferences tobe organised in Timisoara on 11th of November, Iasi, 25th ofNovember, and Bucharest 9th of December, with discussion topicsthis year being related to the solutions managers have to cope withthe crisis.
Last year's winner of the Bucharest area, Radacini Motors, in 2008posted turnover worth more than 236m RON (65.5m euros), up 22% fromthe previous year, but this year expects turnover to halve.
The steps the company has taken since the beginning of the yearinclude cost cuts, personnel assessment and reassignment.
Galati-based Anghel N.G. company, which operates in the field offerrous metal recycling and was rated the most dynamic company inMoldova-Dobrogea area, in 2008 registered turnover topping 188m RON(52m euros), 12% more than in the previous year, when it posted167.8 million RON. Net income amounted to 344,234 RON (95,600euros), down 10% from 2007. The company expects turnover to be 26%lower in 2009 compared with last year.
Liliana Popa, the company's general manager, says the biggestproblem the company is coping with is the lack of cash, so thatreceivables are very difficult to collect.
This year, the company recycled 256,000 tonnes of ferrous waste,double last year's level, with Turkey as the main exportdestination.
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