Den Braven targets €40 mln in sales in 2008

"The factory will produce an annual 10 million sealant tubes, and the capacity will be expanded to an annual 20 million tubes in the coming 2-3 years. We began production in September, with a first line, and the second will be installed in July 2008, at which time we will order a third line," Adrian State, General Manager of Den Braven Romania, told Business Standard.

He added that the start of production in the new unit will increase the company's market share by 50 percent on the polyurethane sealants segment in 2008, while the company's net sales will reach €40 mln, compared to the 2007 forecast of some €24 mln. Polyurethane sealants make up 30 percent of the company's total net sales.

The Buftea factory, the first unit on this segment in Romania, will be a regional distribution center for Den Braven products. Some 70 percent of production is to be sold in Greece, Russia, Ukraine, Bulgaria, and Georgia. The company invested €10 mln in building the factory, €2.5 mln above the initially estimated amount. Den Braven's main competitors on the Romanian market are Henkel, Selena Romania, According Group Iasi, and Temad Brasov.