Grivco, owned by businessman and politician Dan Voiculescu, made some 50 percent of its turnover from energy trading operations, according to the company’s Chief Executive Officer and President, Mihai Lazar, which also made up some 50 percent of Grivco’s income.
However, estimates for 2009 are more pessimistic. The decline in demand for raw materials globally and prices “several times lower than in previous years” are set to impact on the company’s turnover and earnings. “However, we will still register profit. Compared to what is happening with many companies, even industrial giants, this is quite a performance,” Lazar added.
