Onmilogic: Delayed contracts cut into the company’s 2008 estimate

Gabriel Marin, Managing Director of Omnilogic, expects the market to register a 20-30 percent drop in 2009, caused by the global crisis, which has blocked access to financing. “I expect bankruptcies, a sudden redistribution of companies. The professionalism of local managers will make the difference, because they will have to deal with very difficult variables. The leu-euro-dollar evolution, volatile interest rates, and the incapacity of the capital market will lead to the bankruptcy of companies which lack a very good management,” Marin said. The company official also estimates that the national currency will depreciate to RON 5.1-5.2/€1 by the end of 2009.