Can-Pack expects 57m-euro turnover this year

The Romanian subsidiary of Polish group Can-Pack, which holds an aluminium packaging plant with 160 employees in Bucharest, posted turnover worth 52 million euros in the first 11 months of the year, up 20% compared with the same time last year. "We expect to see a turnover worth around 56-57 million euros at the end of the year. In the past, we forecast a 60 million-euro turnover, but the chaotic progression of the euro/dollar/RON exchange rate alters our initial estimates slightly, considering that we have exposure on all these currencies," says Cristian Cornea, chief executive of Can-Pack Romania. Cornea adds that the current circumstances are forcing the company to tighten costs and to reduce to a minimum the stock of raw material and of finished products in order to cut back on funding needs.