Major Romanian child car seats producer close to getting financing from investment fund

Major Romanian child car seat producer Te-Rox Prod is in advanced talks with an investment fund to sell a minority stake, as the company wants to consolidate its business and diversify towards other markets, announced Doina Cepalis, CEO and shareholder of the company.

"We are in very advanced negotiations with the fund, we have signed several agreements. We have identified the investor that suits us the most, we are very suitable for them as well, and we are in negotiations. […] I am thinking of expanding our activity," said Cepalis, quoted by Ziarul Financiar.

All Te-Rox products are exported, the main destinations being France, Germany, Italy, and the Nordic countries.

After obtaining a turnover of EUR 30 mln in 2018, Doina Cepalis said that the revenues decreased as "dozens of Asian companies" appeared on this market.

Te-Rox has reduced its turnover target for this year by 10-15% compared to the beginning of the year, as sales depend on the evolution of the current crisis.

Cepalis remains positive, despite the lack of infrastructure (the group's six factories operating in the eastern part of the country) and the bureaucracy that makes it difficult to access EU funds.

"I have often refused projects, contracts because it is very complicated to access European funds. I tried and gave up. And it is very complicated to export from the area of Moldova [lack of road infrastructure costs us EUR 15,000 per month, she previously estimated], but we will not give up, we will continue," she said.

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