Hirsch to Invest EUR 1.2 million in Romania This Year

19. März 2007, 00:00

Hirsch Porozell, a part of the Austrian Hirsch Servo AG group, has announced that it will invest RON 4.5 million (EUR...

Hirsch Porozell, a part of the Austrian Hirsch Servo AG group, has announced that it will invest RON 4.5 million (EUR 1.2 million) in Romania this year, in the expanded polystyrene plant in Rascruci, Cluj county (Central Romania), company representatives told Ziarul FInanciar.

The plant became operational in September last year, following investments of EUR 4 million, and has an annual capacity of 360,000 cubic metres.

"We ended the year with an EUR 850,000 (RON 3 million) turnover, from only 3 months of sales. In addition, it is a well-known fact within the industry, that starting in December the demand for expanded polystyrene decreases by 70 per cent, said Mircea Popescu, general manager of Hirsch Porozell Romania.

"We are counting on the growth of the constructions market, as well as on the behaviour of the users of this material, that is we hope that the beneficiaries and companies performing thermal insulation of buildings will use at least 10 cm-thick polystyrene boards," Popescu added, estimating that the companys turnover will exceed EUR 3.4 million this year.

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