In the first three months of 2011, the company posted turnover of RON45.1 million and profit of almost RON1 million.
Total revenue grew by 6.8% in the first quarter of 2012, to RON53.5 million, while expenses increased 3.8% to RON50.9 million.
The company is 70% owned by the employees association, while Viorel David, chairman of the board and general manager, owns 4% of the stock.
Artego is Romania’s only producer of rubber bands for material transportation. Its clients include the state-owned energy complexes, the Oltenia national coal company (SNLO) as well as companies based in Italy, Spain, the United Kingdom, France and the United Arabian Emirates.
Most recently, Artego traded on the Bucharest Stock Exchange at RON4.2 per share. (EUR1=RON4.4373)