OBI DIY retailer, controlled by Germany's Tengelmann, is set toinvest another 10m euros this year to open two stores in Sibiu andBucharest, after having launched the fifth location of the group inPloiesti yesterday. "In the store in Ploiesti, we invested 5meuros, the sum we earmark for all the stores we open," said RomanoQuinzi, country manager of OBI Romania. The store in Ploiesti,opened more than one year after the others, has a total area of10,000 square metres and around 110 employees. Amid the opening ofnew stores this year, turnover will rise by 70% from 2009, as thecompany's representatives estimate, without disclosing 2009financial figures. The company entered the Romanian market in 2008and reached a number of around 600 employees in its stores ofBucharest, Pitesti, Ploiesti, Arad and Oradea. For the future,Quinzi states three stores per year will be opened, though "we willno longer have the expansion conditions of 2007".
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