However, by the end of 2008, the company expects business to increase by 10 percent year-on-year, up to €60 million.
The company’s External Relations Adviser, Ovidiu Bologea, said the company also registered a drop in net profit, due to higher costs for metals, energy, natural gas and wages.
Some 40-50 percent of the company’s production is exported to Europe and the Middle East.
This year, the company is to invest some €3 mln to modernize current capacities and purchasing new equipment. It is also due to deliver 34 new high-speed cars to the state-owned Caile Ferate Romane (CFR) railway company, worth some €33 mln.
