The company posted more than RON605 million (EUR127.6 million) revenue and RON60.5 million (EUR12.8 million) loss in 2019, according to the Finance Ministry website.
“The first quarter was better than expected, with growth on most markets. We also noticed a shift in customer preference towards higher added value products. The restrictions during lockdown and the overall difficulties created by the pandemic caused a sales decline in the second quarter. However, as stores reopened, things went back to normal, so the second quarter was almost flat on last year’s,” the officials of Kastamonu Romania told ZF.
Kastamonu’s plant in Reghin, Romania, makes high density fiberboard, door veneers, particleboard and melamine faced particleboard, as well as kitchen countertops for DIY retail chains, furniture manufacturers and wholesalers of materials and accessories for the furniture industry. Exports account for 50% of the revenue of the company.
“We have investments planned for the fourth quarter to increase door veneer production capacity and other upgrades. We are optimistic about how things will turn out and have investments planned for next year, too.”
(English version by Loredana Fratila-Cristescu)