Altex invests EUR 1.5m to cut ribbon for a store in Eastern Romania on expansion plan

The store unfolds over 1,400 square meters and will sell some 10,000 products belonging to international brands.

Altex group operates the Altex retail chain together with Media Galaxy. Altex reached 80,000 square meters of commercial surface at the end of July, totaling more than 80 Altex Megastore, 14 Media Galaxy stores and five Digital shops, a new retail concept on small surfaces.

Altex posted 112 million euros revenues in this year's first half, 25 percent increase versus the same period in 2006. The company estimates more than 300 million euros revenues for 2007 and 26 percent market share.

Dutch-based Bomenveld acquired a 99 percent stake in Altex in December 2006. The rest belongs to businessman Dan Ostahie. Bomenveld, together with Credex and Altex Impex, are part of the DO group, which is controlled by Dan Ostahie and his wife, Marilena.