Varnish and paint manufacturer Fabryo Corporation, held by Swedish investment fund Oresa Ventures, estimates it will record at least a similar turnover as in 2008, of 163 million RON (44.3 million euros) after in the first six months sales saw a slight rise, by 3%, of the Romanian currency, although the market fell by around 15-20%. Behind the sales increase were the fact that the company shed non-core products and non-profitable products, as well as the almost one million-euro investments in promotion, 500,000 euros of which in TV campaigns. "In the second half of the year, we expect to keep the same pace, ending the year at least at the same level as in 2008, which would mean a significant market share rise for Fabryo, considering the decline in consumption," said Alin Kosza, Fabryo CEO. The company did not reveal the turnover recorded in the first six months of the year. In the first half of 2008, Fabryo reported a 20-21% turnover rise against the first half of 2007, when the entire market boomed. "In 2009, this was a very intense half-year, with doubts, difficulties and arrearage on the market," Kosza says. Considering the results recorded in the first half, the company will invest a further 600,000 euros by the end of the year in a promotional campaign for the Innenweiss brand, in opening show-rooms and in other promotions, after the 500,000 euros invested in the first half in a TV campaign for Teflon-based Savana paint for bathroom and kitchen. "Savana cu Teflon Baie si Bucatarie has reached the share targeted by the company, 10% of all Teflon-based Savana sales, only three months from its launch," explains Kosza.
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