Baia Mare-based sofa manufacturer Italsofa, held by the Italian furniture group Natuzzi, estimates to see turnover increase more than three times this year, up to 80 million euros.
Italsofa Romania's turnover had already tripled last year as compared with 2002, up to 24 million euros from 8 million euros.
Natuzzi invested 21 million euros in the Baia Mare-based plant last year and will continue to do so this year.
"Last year's growth was chiefly due to the investment programme aimed at expanding the production capacity, which amounted to 21 million euros and comprised buildings, vehicles, machines and other production equipment. Our policy this year will aim at stabilising and optimising investments and resources," Francesco Stasolla, president of Italsofa Romania, said. The money came from the company's own resources, namely from the capital contributed by the associates. Although last year's investments were significant, Natuzzi is already eyeing new expansion projects.
"We are in talks to buy a new piece of land and we will go for another investment in Baia Mare if the global market confirms the positive early-year data," Stasolla also said. However, he would not disclose the precise value of the investments planned for this year.
Stasolla claims, in return, the total investment of the Natuzzi group on the Romanian market has come to 30 million euros. Italsofa Romania shareholders are Natuzzi Netherlands and Natuzzi Spa. Moreover, the company officials expect the number of employees to reach 1,000 by yearend. Last year, the company's staff went up from 280 to 760. Italsofa Romania posted profit worth 3.8 million euros 2003, and forecasts 8-9 million euros profit for this year, according to data released by the company.
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