ZF English

Armchairs feel pinch of the economic crisis, as well

21.10.2009, 14:05 5

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

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