Cersanit plans ceramic plates factory in Romania

Newsroom 15/09/2008 | 16:09

The company has recently bought two pieces of land totaling 35.3 hectares in Bacau county, from wood tiles producer Barlinek, for which it paid EUR 15 million. Both Cersanit and Barlinek are controlled by Michal Solowow, one of the richest people in Poland.
The new factory is also aimed at limiting the impact of the strong Polish currency, the zloty, as the company sells one fifth of its production in dollars, which has resulted in losses due to the depreciation of the US dollar in the first half of the year. A factory outside Poland is meant to protect the group's main operations.
Cersanit controls the majority share package in Cersanit Romania, formerly Romaniceram. The company grew its turnover by 48 percent in the first half of the year, to EUR 5.9 million in Romania. It posted a loss of EUR 1.5 million, double the loss in the first half of last year.
Barlinek, which produces wood plates, is also planning to expand its production at its Diana Forest Bacau unit. The company took over the factory earlier this year from two companies in the Spanish Martinsa – Fadesa group, for EUR 23 million.
Corina Saceanu

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