Targu Mures-based furniture manufacturer Ilefor estimates a turnover worth 6.1 million euros for this year, a 10% increase against the figure seen last year. In 2005, the company''s financial indicators witnessed an approximately 35% drop against 2004, given that the European currency depreciated and that orders on the foreign market decreased. "The European furniture market is still going through recession, which is also affecting us, since more than half of Ilefor''s production is exported. The domestic market, although it should be going through a very good period given the hefty volume of real estate investments, is still affected by the people''s low purchasing power," stated Ioan Gherasim, the company''s general manager. For this year, Ilefor has planned investments worth 750,000 euros to develop production capacities and to rally to European environmental standards. This investment has the same target as the project started in 2005, when the company allocated a 1 million-dollar budget to develop production capacities and for environmental purposes. "These investments have helped us increase our productivity, with the number of our employees being 10% lower than last year. Also, once these investments are completed, we will have nothing to worry about when we integrate into the European structures," Gherasim added. ZF
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