Polystyrene to double Amvic business to €20 mln

“We launched polystyrene production last September and had sales worth €3.2 million by the end of the year. For 2008, we expect an increase of this division up to €12 million,” said Amvic owner, Marin Crutescu.

A further €8 mln in turnover are expected from other companies in the group. Amvic is made up of nine companies involved in sectors related to the real estate segment - from design to double-glazed windows.

Crutescu said the group will invest some €2 mln in a production line for double- glazed windows.

He added that he plans to sell the group in the coming two years, for no less than €40 million. “I intend to withdraw, so I will definitely sell in 2009 or 2010,” Crutescu said. He stressed that prior to selling he plans to consolidate the business and finalize scheduled investments. “I have already had several offers, but a transaction will not be made earlier than next year,” Amvic's owner said.