Far Est, a manufacturer of PVC windows, held by businessmen Cristian Zamfir and Valentin Bazavan, recorded a 25% sales decline amid a reduction in real estate transactions, which led to a decline in the amount of refitting works. Far Est, which delivers PVC windows and doors mainly to individuals, intends to tap into new niches this year, including real estate projects, because it completed investments worth 4 million euros in boosting production last year, and this allows it to sell its products cheaper. "The decline in the number of real estate transactions, which has brought along a decline in refitting works, as well as a drastic reduction in new works due to lack of credits reduced first-quarter sales to 75% of what they amounted to in the same period of last year," said Cristian Zamfir, managing partner of the Far Est group, who holds 50% of the group. Far Est, which consists of 5 companies, posted an 18 million-euro turnover last year, up by around 25% on 2007. "For this year, we have budgeted a turnover amounting to 75% of the 2008 figure because the number of new construction works and refitting works is going down compared with last year. However, our advantage is that we have completed investments into automating production last year, and we can sell cheaper," Zamfir explains.
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