Romanian appliance producer Arctic ups turnover by 18%

Arctic, the largest home appliance producer in Romania, recorded a turnover of EUR 396 million last year, up by 17.7% over 2014. The net profit went up by 20% to EUR 31 million, according to official data from the Finance Ministry. The company had to recover receivables of EUR 100 million and pay debts of EUR 50.5 million at the end of last year. Arctic Gaesti, which started as a fridge producer in 1968, is now owned by Turkish group Arcelik. The group decided in February to build its second plant in Romania, where it will produce washing machines. The new plant will require a EUR 105 million investment. Arctic has almost 3,000 employees at its refrigerator factory in Gaesti. Exports represent 75% of the company’s revenues. editor@romania-insider.com