The Simcor Oradea group, which is active on the Romanian construction materials market, managed to double its turnover in 2004 to 37.1 million euros, according to early estimates.
"Simcor sealed an increased number of deals in 2004 due to the takeover of the lime operations of the Lafarge group at the end of 2003, but also due to investments in the technical side of companies belonging to the group. For the current year, we are targeting turnover of 43 million euros," Dumitru Manucu, general manager of Simcor Management Oradea, the group's management firm, told Ziarul Financiar.
The Simcor group consolidated its network of companies in 2004, which now covers various fields, from the production of lime and other construction materials to transport activity.
Last year, the group made net profits of 2-2.5 million euros, around 10% up year-on-year.
"Our target was to raise the profitability of group activities as well," said Manucu.
Last December, Simcor sold the majority stake in Ecocen, one of the companies in the group, to Lafarge. The deal was close to 100,000 euros. Ecocen also processes ash and slag from the Rovinari thermal station.
Simcor Oradea has a market capitalisation of 1.34 million euros on the RASDAQ at the latest share price of 10,500 ROL/share.
As part of its strategy of acquiring and then modernising Romanian production facilities, Simcor also competed in the takeover of Soceram Bucharest.
adrian.mirsanu@zf.ro
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