Baumix to double net sales and production in 2008

“We will reach a level of eight million euro this year, and are estimating growth of over 14 million euro in 2008, following the takeover of Siegel’s activities. We will begin construction on a new factory near our Ploiesti unit next year, to double our production capacity,” according to a declaration to Business Standard by the company’s Chief Financial Officer, Dana Manole.

The company’s COO went on to say that it will invest €2 mln next year to modernize the Ploiesti and Gherla factories, while investments to promote products will amount to €1 mln, almost double those for 2007.

Some 70 percent of the company’s sales are made up of adhesives, while the rest is polishing plaster coat (10 percent), mortar, and putty.

Baumix was established in 2004 and has its headquarters in Ilfov County.