Gecsat to invest 6 mln euros to expand production

Aluminium and PVC trim maker Gecsat based in the central town of Tarnaveni plans to invest around 6 million euros this year to acquire and install machinery to manufacture glass mineral wool, the Ziarul financiar daily reports on April 14.

"We intend to diversify our product portfolio as of August this year, and start to produce and sell glass mineral wool. Even though the share of exports is currently very small, less than 3 percent of our turnover, once we start to produce glass mineral wool, we expect 20-25 percent of our output to be exported," said Gecsat CEO Cristian Marginean.
The company closed the 2006-2007 financial year with turnover worth over 6.7 million euros, but forecasts a sales increase of 7 percent in 2008 compared with the previous year. According to company representatives, its competitors are Austrotherm, Caparol, Isopor on the polystyrene segment, Henkel, Baumit, and Bauleiter on the adhesives segment, and Isover and Ursa on the glass mineral wool segment. The company has several individuals as shareholders, while SIF Muntenia (a financial investment company) accounts a 25 percent stake.
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