German Lapp Group targets higher turnover in Romania this year

Lapp Group, one of the largest manufacturers of cables, wires and accessories, plans to increase its turnover in Romania by 20 percent this year from RON 27.5 million (EUR 6.2 million) in 2013, to RON 33 million (some EUR 7.3 million). The group officially entered Romania in 2012, with the takeover of Coelco Trade. “Lapp Group distributes in Romania all the products in its portfolio; the local market is becoming more important for the German group, one of the proofs being the publication and launch of the catalogue in Romanian this year, which is a first and includes all 40,000 products sold worldwide by Lapp Group,” said Dan Ionas, sales manager Lapp Group Romania, quoted by local Wall-street.ro. In the 2012/2013 fiscal year, the group had a total turnover of EUR 830 million. The pre-tax profit amounted to EUR 35.5 million, while the total number of employees was of some 3,200. With a share of turnover of some 70 percent, Europe is the biggest market of the group, followed by Asia and America. Irina Popescu, irina.popescu@romania-insider.com