Rehau foresees €65 mln worth of business in 2008

Rehau Polymer, the local subsidiary of the German Rehau group specialized in polymer-based construction materials, automotive and industry products, is focusing on implementing new alternative energy heating systems in Romania. The company estimates a 10 percent increase in business in 2008, up to €65 million.
The 2008 budget is computed at an average RON/EUR exchange rate of 3.4, according to company officials.
The company will also invest €20 mln in the construction of a tube factory in the central city of Sibiu. The company presently owns a factory in Sibiu, in a rented location. The entire production will be relocated to the new unit, once it is finished.
"For the next year, we do not target a very large growth, as we want to consolidate our position on the fields we operate in. We want an increase in quality and to support new fields, such as that of renewable energy equipment and systems," said the Board of Directors' Chairman of the Rehau group for South-Eastern Europe, Peter Nadig.
The company aims to become provider of renewable energy equipment and systems for real estate developers and energy producers. Rehau officials said they are currently negotiating a residential project with a German developer that plans to build a biomass plant in Romania.