“[The giants] could place a lot bigger orders than we could cater to. Markets such as Romania and Poland are interesting for these companies, but certain criteria to do with quality and timely delivery have to be met. Whoever did not pursue this policy with major international companies pays now,” says Mihail Toncea, head of the Association of Romanian Aeronautical Companies. He is also head of the Iarom group, majority shareholder of Aerostar Bacau (ARS.RO)
The 10 leading companies in the Romanian aeronautical sector had total turnover of RON687 million (EUR154 million) last year, 28% higher than the year before.
The growth is largely due to the greenfield investment made by EADS in Ghimbav, according to a ZF analysis.
The plant built in Ghimbav two years ago by giant EADS for the production of Airbus subassemblies almost trebled its turnover last year, to RON142.6 million (EUR32.2 million). Currently the company is close to outranking Aerostar Bacau.
Aerostar’s turnover rose 26% last year, to RON196.9 million (EUR44.3 million), helped by orders for Airbus components. The Romanian company has conducted several major investments in expanding its production capacity lately.
This year’s prospects are good especially for large companies on the market, while state-run companies in the sector could continue to face lower budgets and a lack of orders.
The Economy Ministry has announced this year it will privatize companies in the aeronautical sector and cut costs, but companies in the industry are skeptical about the state’s plans.
(English version by Daniela Stoican)