Romet Buzau’s business down 70% in Q1

The Romet group, with activities in agriculture and industry, registered a 70 percent drop in revenues in the first quarter of 2009, to €10 million from some €35 mln, according to the company’s main shareholder, Constantin Toma.
“The first quarter of this year is the strangest since I have been in the business, because the entire economic activity stopped suddenly, and sales dropped sharply,” the businessman said.

The enterprise estimated a 15 percent drop in turnover for this year, from the €214 mln posted at group level. “Our main goal this year is survival,” Toma added.

The firm estimates investments worth some €12 mln for this year, of which almost €6 mln to come from European funds. According to the company official, one third of the amount will be used for acquiring industrial machinery while the remainder will be directed towards agriculture.

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