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Joseph Seroussi: "For 200m euros, I will sell the business"

12.07.2007, 21:02 14

Businessman Joseph Seroussi, owner of four textile plants and of the No 36 clothing stores, says he would not turn down a 200 million-euro offer to sell. "If someone were willing to give me 200 million euros, I would be crazy not to sell. Some time ago, we received a few offers, but at present, no one is interested, especially because of the severe personnel shortage on the market. Anyone who is buying a business will want to expand it, not simply prepare for departure," said Seroussi, president of J&R Enterprises. The businessman holds shares in Ikos-Conf (Odorheiu Secuiesc), Norada (Odorheiu Secuiesc), Serconf (Botosani) and T.J.R. Industries (Tulcea). According to the latest available data, Ikos-Conf posted a 16.3 million-euro turnover and a 1.4 million-euro profit in 2005, whereas Norada finished the year with an 8.3 million-euro turnover and losses of 0.2 million euros. Serconf registered a business worth 7.6 million euros, alongside a 0.4 million-euro profit, whereas T.J.R. Enterprises ended 2005 with losses worth 0.1 million euros and a turnover worth 0.7 million euros.

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