10.2 C
October 30, 2020

Low-cost demands makes VES Sighisoara a spectacular comeback

After going through ample restructuring processes, managerial changes and cost reductions, Enamel Cookware Sighisoara (VES), one of the Romanian fireplace industry’s leaders, announced yesterday, during a press conference, the relaunch of an ample re-branding and modernization process.

Unlike 2009, which represented a period of significant turnover decline, 2008 brought the company a turnover of RON 51 M, being one of its best years financially-wise. “In 2010 the company stood out through product diversification, successfully entering foreign markets with its production of fireplaces and solid-fuel heating appliances, which brought us an export growth of 50 per cent and an estimated turnover of RON 49 M, RON 8 M above the 2009 level,” Alexandru Farcas, president of VES Sighisoara’s Administrative Board, stated on Thursday.

According to Farcas, the company exported products, especially enamel cookware and gas convector heaters, to the following countries: Hungary, France, Netherlands, Germany, Norway, Poland, Ukraine, Greece, Guatemala and USA. In 2011 the company seeks to export products to other countries in Western and Central Europe.

The budget earmarked for re-branding, a process that started to take shape in Q1 of this year, represents 3 per cent of turnover, while the budget earmarked for modernization stands at approximately EUR 2 M.
According to VES Sighisoara general manager Sorin Stan, the company’s current production capacity stands at 3 million enamel cookware units per year.

Related posts

Corridor 4, Nadlac-bound motorway, ready by 2016

Nine O' Clock

IT&C sector – engine of the economy: SoftOne Romania enters strategic partnership with Master Computers

Nine O' Clock

OMNIASIG Vienna Insurance Group regains UNSAR membership

Nine O' Clock

Leave a Comment