Cemacon reports 37 percent increase in nine-month turnover

Ceramic blocks producer Cemacon reported a 37 percent increase for the first none months of the year, compared to the same period of the previous year. The company posted for the first nine months of the year a net result of RON 3.76 million and a gross turnover of over RON 51 million.

“An important step in our short-term growth strategy is reopening the production line in Zalau, a decision probably inconceivable on a market where the offer exceeds the demand. The production capacity for the Evoceramic bricks will increase by 26 percent,” said Liviu Stoleru, general director and president of the Cemacon board of administration.

This year, the company’s Recea plant worked at maximum capacity, thus managing to maximize the investments made in the first part of the year. The investments entailed an increase in productivity, cost cuts and improving the quality of products. After the Recea plant reached its maximum production capacity, the company decided to expand the production capacity and is currently running modernization works at the production line in its Zalau plant.

During the third trimester of the year, the company continued to implement the procedures agreed to restructure its credits, according to the calendar it agreed with BCR in November 2013. According to the company’s annual report, the agreement for loan restructuring signed with BCR involved a fresh capital contribution, debt conversion in shares, unproductive asset outsourcing and the reorganization of loan agreements.

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