Electroputere forecasts a net profit of 23.55 million lei (EUR3.14 million), from a loss of RON48 million in 2011, according to the company’s revenue and expenditure budget.
The company estimates net sales of RON272 million in 2012.
Electroputere plans to decommission two of its five divisions. In March, the company announced it will lay off 350 staff in 2012, because of low demand.
Electroputere is majority owned by Saudi Al-Arrab Contracting Company Limited, with an 86.28% stake.
On the Bucharest bourse April 18, Electroputere closed down 8.8% at RON0.035 share. (EUR1=RON4.3791)