Since the two businessmen took control over the company and brought in a new general manager, they have seen turnover rise five times, to over EUR11 million, mainly from sales on the domestic market. Now, they are looking at foreign markets to take growth further.
“We already have offices for the former Soviet area, the Arab area and we’re now eyeing the Balkan area. We’re trying to push into all the markets around Romania and we believe we’ll be successful,” stated Octavian Buzoianu, on the occasion of the Retrasib shares being promoted to the Bucharest Stock Exchange main market from RASDAQ.
The Buzoianu brothers became Retrasib shareholders in 2007. They restructured the company and turned it into a transformer producer through investments using their own funds and working capital from banks.
Retrasib thus grew from a turnover of RON8.2 million in 2007 to RON47.5 million last year and a 70% market share. (EUR1=RON4.1732)