“The first quarter was a very good one, as we ended in the black. This was surprising, because we have had a problem with our most important piece of equipment, our 12,000 ton press,” Antonescu told Business Standard.
Profit is especially relevant this year, as the company intends to access European funds, so important in the context of the current economic recession. Doosan IMGB estimates RON 370 million (some €90 mln) in net sales in 2009, a 30 percent year-on-year increase, mainly due to higher demand on foreign markets, according to the company official.
The enterprise’s main challenge in 2009, due to the crisis, is finding financing sources, something that could slow the modernization process, as the company must manage with own funds. Doosan IMGB will neither recruit nor resort to layoffs in 2009, according to Antonescu.
