The deduction of the expenses for thermopane windows from the global income tax will not only give a boost to the thermo-insulating glass market but also to the industries providing it with various supplies, such as professional insulators or even tile.
A "spectacular" growth is expected on the market of professional insulators and polyurethane foams next year, from the estimated 14-15 million euros in 2003. The insulators are used to fill gaps in the walls that occur when installing thermopane windows.
"Considering the steps taken in view of deducting the expenses made for installing thermopane windows, the professional insulators market (polyurethane foams and silicones) will be stimulated in 2004 and exceed this year's 10% growth rate. We could witness a spectacular growth," said Adrian State, general manager of Den Braven, the top player on this market.
The Chamber of Deputies decided when debating the Fiscal Code that the expenses made for installing thermopane windows at home would be deductible from the global income tax up to 15 million ROL a year. This incentive was granted in order to help improve the insulation of the homes in Romania, which is very poor at the moment.
State says the professional insulators and polyurethane foams market saw up to 10% growth in 2002. Den Braven Romania, the local branch of a Dutch family business controls about 55% of this market, with rivals including Dutch Bison Group (its main importer on the Romanian market is Temad Co Brasov), Selena (Poland) and Henkel - Ceresit.
Den Braven, whose budgeted turnover for 2003 is 8.3 million euros, has industrial clients, retail clients and key account clients, with the third category including Praktiker, the German Metro AG's DIY division. The market is now going through a time of structuring and selection, given that drastic conditions for the quality of the finished products are expected to be imposed on the market, which might put certain companies out of business starting next year, as Romania nears its EU accession date, sources on the market say. adrian.mirsanu@zf.ro
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