“Our business increased by 20% after the first six months, both on the local market and in terms of exports. With a little effort and luck we’ll be able to keep this growth,” says Monica Iavorschi, the general manager of Arctic, a company controlled by Turkey’s Arcelik since 2002. The Arctic official said that at worst the company would only see its revenue increase by 15%.
She explained that the exports had been the growth driver of the business this year and in the last few years, contributing as much as 75% to the revenue. The share of export in the total has increased year after year, as product portfolio diversified and new markets were added. Arctic is currently exporting to 50 markets in the world, and its most important are Turkey, the Middle East and the traditional Western European markets.
“Four or five years ago, exports accounted for 50% in the total business. Back then the local market was growing, too,” Arctic’s official says.
Artic posted growth of 20% in the first half, and if the pace maintains, it might reach EUR300 million revenue.
“We’re currently manufacturing at almost full capacity. We have a EUR10 million investment budget for this year, the highest of the last few years. We will invest it in improving manufacturing efficiency,” Iavorschi said. Last year’s budget was EUR8 million and was invested in the production capacity of the plant in Gaesti.
As the factory operates at almost full capacity, the group is considering expansion, Arctic’s official said, adding that the decisions about a new plant are made at the headquarters in Istanbul.
Arctic has expanded the capacity of its plant in Gaesti (southern Romania) to meet rising export demand over the last few years. It ended 2011 with 1.07 billion lei (EUR253 million) in revenue, up 13% on the previous year.
(English version by Loredana Fratila-Cristescu)