Air conditioning to spur 30 percent growth in Radox business

“Last year was a difficult one due to a rise in production costs and personnel fluctuations, after Romania’s accession to the European Union, so we closed the year with €17 mln turnover, although our target was €20 million” according to a statement for Business Standard by the company’s owner, Cornel Rosu.

He said that heating and cooling equipment imported from the UK, Germany and Italy will make up 70 percent of total business.

Radox will invest €1.5 mln this year to expand its Campulung-Muscel radiator production unit by a further 2,500 square meters. “Following this investment, which is due to be completed in the third quarter, the production of radiators in Bucharest and Campulung will increase in the coming two years by 50 percent, from 200,000 to 300,000 units,” said Rosu.

Some 80 percent of radiators were exported and sold in France, UK, Spain, Ireland, Denmark and Greece, and the company plans to focus on the local market in 2008.

The company has over 30 suppliers on the air conditioning market. Radox has 500 employees and 300 distributors. It owns a factory of 20,000 square meters in Western Bucharest.