Romanian tile producer doubles profit in Q1

Local tile producer Wetterbest, which is controlled by investor Dragos Irimescu, recorded a turnover of EUR 15.5 million in the first half of this year, up 65% compared to the same period last year, according to the company’s estimates. The company expects a profit of EUR 1.5 million in the first six months of this year, double compared to the one recorded in the first six months of 2016. Wetterbest has allocated EUR 1 million for investments this year, namely for acquiring last-generation equipment, extending production line and developing infrastructure. The company exports products to seven countries in Europe: Bulgaria, Serbia, Hungary, Slovakia, Czech Republic, Belgium and France. In 2017, it expects to export about 100,000 sqm of products worth EUR 1 million. Exports should account for 10% of the total turnover by 2019. The company plans to expand to other important markets such as Poland, Hungary, Austria and Germany. Wetterbest has two factories, in Baicoi, Prahova county, and Podari, Dolj county. editor@romania-insider.com