Tiriac Holdings, which operates in the automotive, real estate, leasing and air transport (VIP charter flights) sectors, forecasts business worth approximately 2.2 billion euros this year, an increase of 37 percent on 2007, says Cristina Munteanu, the group's communication director.
The group, which is controlled by businessman Ion Tiriac, comprises TiriacAuto, Tiriac Imobiliare, Tiriac Leasing and Tiriac Air and posted approximately 1.6 billion euros in turnover last year.
Besides the four divisions, the group also comprises security and protection firm SecurIT Force and lift manufacturer IFMA.
The automotive division accounts for the bulk of the consolidated revenues, more than 900 million euros in 2007, and is forecast to contribute 1.4 billion euros this year.
Tiriac Holdings conducts both import and distribution operations on this segment. Imports are made through four companies - Romcar (Ford representative in Romania), Hyundai Auto Romania (Hyundai representative in Romania), M Car Trading (Mitsubishi representative in Romania) and Premium Auto (general distributor of Land Rover and Jaguar in Romania).
The automotive division also includes 14 dealers, which sell Mercedes, Chrysler, Dodge, Land Rover, Jaguar, Jeep, Mitsubishi, Ford, Hyundai and Mazda vehicles, as well as TiriacAutorulate, which sells second-hand cars.
The value of the assets financed on the leasing segment is estimated at approximately 330 million euros for 2008, compared with 225 million euros in 2007.
Tiriac Holdings has total investments scheduled for this year worth about 500 million euros, with the funds to be directed towards real estate (residential and commercial) projects and the opening of automotive showrooms/centres.
"2008 is the first year when we launched a series of multibrand automotive centres, positioned under the TiriacAuto umbrella," Munteanu said.
The group is involved in the development of Residenz and Stejarii residential projects, of two shopping centres in Timisoara and Brasov, and intends to expand the automotive dealer network when it opens showrooms in Constanta, Bacau, Piatra Neamt, Suceava, Pitesti, Sibiu and Bucharest. Tiriac Holdings also opened a showroom in Constanta in May, in the wake of a five million-euro investment.
Tiriac Imobiliare includes 21 companies and expects the total market value of its investments to reach 900 million euros by 2010.
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