Amvic Group’s owner goes residential with Ilfov complex

Recently, the businessman expressed his intention of selling all the companies in the group for over EUR 40 million. Crutescu is planning a total exit from the construction segment. Instead, he wants to set up a pilot training company.
Crutescu says he is in negotiations with three foreign companies, of which two are investment funds, in order to find the best offer for Amvic. He estimates talks will end in 2010 at the latest.
The entrepreneur estimates Amvic will double its turnover in 2008 to EUR 20 million, and forecasts a turnover of EUR 30 million in 2009.
Amvic Group has invested EUR 7 million in a plant and an office building in Ilfov county. EUR 2 million was used for a new production line for window frames. The group's first company producing window frames, known as Corina Gealan, was established in 1994.

Magda Purice