Electrical wiring maker Romcab Targu-Mures, part of the Paneuro Group, concluded 2003 with more than 50% growth in net income, to 6.3bn ROL, compared with 4.1bn ROL a year ago. The turnover rose 22% to 443bn ROL (11 million euros). The company makes cables for three market segments, i.e. civil engineering, automotive industry and products for home use. Civil engineering cables account for 55% of the company's turnover. Romcab's manager, Geza Gombos, says Romcab exports its entire wiring output for the automotive industry, with its main clients including Aprilia, Ducati and Valeo, while its top client on the segment of products for home use is Electrolux. Last year, Romcab announced plans to release an issue of bonds to raise cash for its operations, but has dropped them for the time being. "We did not see eye to eye with the insurance company supposed to underwrite the issue, so that we did not release the bonds. Raising cash by bonds remains an option we are still contemplating," Geza Gombos said. ZF
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