Romanian Farmec will settle for 5% growth in cosmetics sales this year

Romanian cosmetics producer Farmec Cluj – Napoca aims for a 5 percent growth in its business this year, to some EUR 26.8 million in turnover, which would represent slower growth than in previous years.

The company's turnover went up by over 10 percent a year in the last two years. “We believe 2012 will be a difficult year for the entire Romanian economy, in all market sectors. We will continue to launch new products and we have an investment plan, but we remain cautious,” said Mircea Turdean, the company's general manager. Farmec will invest EUR 600,000 in new equipment, modern production lines, as well as refurbishment of its office areas. The company posted a turnover of EUR 26 million last year, up over 15 percent on the year before, after initially targeting a 7 percent increase. Around 10 percent of the turnover came from exports to countries like Japan, Lebanon, Spain, Italy or Hungary. Farmec is better know for the Gerovital cosmetics brand. editor@romania-insider.com