For 2023, the company targets a turnover of EUR13 million. Electric had a net profit of RON916,086 (EUR185,800) in 2022, down 7% from 2021, as per calculations by Ziarul Financiar (ZF) daily based on publicly available data.The company had an average number of 160 employees in 2022.
Electric has a factory in the town of Focsani, with more than 30 production lines for bottles, flacons, lids, heat-shrinkable foil, tote bags, bags and sacks made from biodegradable materials, as well as steel and aluminium matrices, 3D prototypes of real size and 3D scanning.
The company plans to build a trash bag factory, an investment estimated at EUR20 million. Construction works on the new factory are due to start in spring 2024 and the new facility is expected to triple the production of trash bags. For this project, Electric seeks to attract a partner into the company’s shareholding structure, an investment fund, in order to sell a minority stake, in line with data previously provided by the company. Romania’s trash bag market is estimated at EUR1 billion, as per a study ordered by Electric.
In 2022, the company invested EUR2.5 million in doubling its production capacity for all types of packaging products, thus reaching a processing capacity of 1,200 tons of plastic packages per month, from 650 tons previously. The packaging product factory from Focsani has more than 800 customers across all economic sectors and operates its own ca fleet of eight trucks used for carrying the merchandise to customers.