“We are estimating lower sales this year compared to 2007, due to a decline in consumption,” she said. Iavorschi estimates a 5 percent drop of Romania’s household appliance market. For 2009, her forecast is neither optimistic, nor very pessimistic. “As a local producer, we are less affected by exchange rate variations. As far as loans are concerned, they are not our main financing source,” Iavorschi said.
Arctic has a 30 percent share on the Romanian market, with turnover worth €224.3 million in 2007. Its main competitors are Electrolux, Indesit, Ariston, Zanussi, Whirlpool, Siemens and Bosch.
