“We will invest some €120 million in acquiring factories in Central and Eastern Europe and in railway cars,” said Stoica Gruia, who controls the Grampet group together with Vasile Didila.
Gruia said major investments have been made in Romania this year, worth several tens of millions of euro, and that the company has met its goals set at the beginning of 2008.
“GFR’s business increased by an annual 35 percent in this year’s first nine months. However, I do not believe this growth rate will be maintained in 2009, due to a downward market,” Gruia explained. Grampet officials estimated €350 mln in turnover in 2008, up 30 percent year-on-year.
GFR’s main competitors on the local market are CFR Marfa, Servtrans, and Unifertrans. The company’s major clients include Compania Nationala a Huilei and Petrom oil companies, Conpet Ploiesti oil transporter, and Mittal Steel Galati.
