Rolling Stock and Bearing Companies Score 34% Growth

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Jul 04,2008

Rolling stock and bearing companies on the Romanian market scored a 34% growth, in 2007. Despite all this, the profitability margin keeps rather low. Astra train carriages maker in Arad (western Romania) consolidated its top position on its segment, posting a turnover worth 134 million euros, by 52% higher than in 2006. Nevertheless, the losses were higher than in 2006, namely 4.6 million euros. Similarly, Romvag Company in Caracal (south) reported a turnover worth 70.7 million euros, almost double than the previous year when the profit was 4.6 million euros. Last year, the Saudi Al-Arrab Contracting Company, operational in the Gulf area firstly, paid the state-owned Electroputere engine maker in Craiova (south) 120 million euros, for the majority package of the company, including 60 million euros, the Company’s debts. Al-Arrab expects Electroputere to earn profit by 2009, after it reported losses higher than 30 million euros, in the last two years. Bearings makers posted lower business and a modest profit in 2007. Thus, Timken Romania of Ploiesti (south) tops the market controlled by the US Timken Group, reporting a turnover worth 72.3 million euros, by 20% higher than a year before, and a profit worth 7.7 million euros, by 42 higher. The bearings manufacturer in Barlad (east) increased business by 11%, to 58.1 million euros, and diminished its net profit by 33%, amounting to 3.8 million euros. The rolling stock and bearing makers were also facing last year a 15-20% rise in the steel price on the international market.

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