Romanian refrigerator and washing machine manufacturer Arctic, part of Turkish group Arcelik, increased its sales by 9% in 2019, to RON 2.52 billion (EUR 525 million), Ziarul Financiar reported.

The company has doubled its turnover over the last seven years and tripled its revenues compared since the 2008-2009 recession.

The company’s turnover has steadily increased over the past 12 years, even during the recession years.

The growth has been driven by steady focus on exports and currently 83% of the production of the two factories operated by Arctic goes to 85 foreign markets.

Arctic operates two factories in Romania, both in Dambovita county: one in Gaesti, where it produces refrigerators (developed during the communist regime and privatised), and another one in Ulmi (a greenfield investment) where washing machines are produced.

(Photo courtesy of the company)

editor@romania-insider.com