Armchairs feel pinch of the economic crisis, as well

Representatives of executive chairs manufacturer Antares Romania have revised this year's forecast downward and expect a 6.5 million-euro turnover, over 38% less than last year. At the beginning of 2009 officials of the Cluj-based company expected the turnover to stagnate at 10.5 million euros, but, due to the current market conditions, sales were on a steep decline in the first nine months of the year. In January-September 2009, the Cluj-based company posted a 4.5 million-euro turnover, down by around 40% against the similar period of last year. "The effects of the financial crisis continue to be felt by chair manufacturers. Although the best-selling chairs are the classic revolving office chairs, this segment is experiencing a visible decline compared with the previous few years," said Laczo Csaba, general manager of Antares Romania.