Frigoglass Romania, a provider of personalised solutions and services for commercial refrigeration, expects to derive a turnover worth 85.6 million euros this year, up 37% year-on-year and 70% higher than in 2005.
"The indication of financial increase is due both to the tighter cooperation with our current customers and to the expansion of our activity to new geographic locations. We believe that market dynamics will be characterised by a rising consumption of soft drinks and beer per capita, which will lead to a higher demand for product refrigerating devices," the general manager of the company, Anna Tsoga, told ZF Transilvania.
In 2006, the company invested 4.9 million euros to acquire new equipment and devices needed for the development and diversification of production and a further 1.5 million euros has been earmarked for 2007, according to information provided by Frigoglass officials.
The company is running manufacturing and sales operations at its plant in Timisoara and operates deliveries to neighbouring countries through its own regional sales office.
Exports account for 81% of the overall sales operated by Frigoglass Romania, with Western Europe being the main market. The company manufactures vertical commercial refrigerating display cases under Frigorex and Norcool brands, aimed at producers and distributors of soft drinks, low alcoholic beverages, dairy products and mineral water.
The latest products Frigoglass launched onto the market are two different types of small refrigeration display cases. The company's most important clients are Coca-Cola HBC, SABMiller, Heineken, Carlsberg, Pepsi, Friesland, Danone. Frigoglass Romania's exports partners are from Europe, India, Asia and South America.
Frigoglass Romania was set up in 1995, with the Frigoglass Greek group as its main shareholder and primarily produces and sells commercial refrigeration devices.
The company started operating in the wake of a greenfield investment worth 4 million euros and currently employs 700 people.
The main competitors of Frigoglass in Romania are SFA, Klimasan, Linde, Helkama, Sanden and True.
The Frigoglass group's headquarters are in Athens and the company carries out production activities in 10 different countries over 3 continents. Its products are sold in over 100 countries around the world.
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