Ioan Tecar revises budget down to 100m euros

MG-Tec group, in Dej, operating mainly in the constructions sector, forecasts an around 105m-euro turnover for next year, up by just 5% against this year's expected sales. According to the latest estimates of the group's management, MG-Tec Grup will post an around 100m-euro turnover this year, 10% lower than initially forecast. "Even though we expected an around 110m-euro turnover for the entire group at the beginning of the year, due to the financial crisis which is currently affecting some of the member companies of the MG-Tec Group, we have to revise our initial estimates downwards by 10%. The most affected are MG-Tec Grup members involved in metallurgy and constructions," Ioan Tecar, president of MG-Tec Grup told ZF. In the first half of this year, the group saw an overall turnover worth around 60m euros, up 25% against the same time last year.