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Italy’s Menatwork May Build Industrial Park Near Bucharest In EUR10M Invest

Italy-owned construction group Menatwork plans to develop a 10-hectare industrial park near Romania's capital city Bucharest, in an investment estimated at EUR10 million, the company’s general manager Monica Grafu told MEDIAFAX on Monday.
Italy’s Menatwork May Build Industrial Park Near Bucharest In EUR10M Invest
06 iul. 2009, 16:28, English

"We currently own 60,000 square meters and we plan to buy another 40,000 sqm by the end of the year," Grafu said.

The Menatwork group, owned by several Italian businessmen, includes 22 companies activating in the construction industry. 

Grafu said the group’s turnover dropped by around 20% in the first part of the year, estimating that the downward trend will continue by the end of 2009, due to the current economic and financial context. In 2008, Menatwork posted EUR100 million in turnover.

According to the general manager, the group will try to optimize its costs, diversify its products and refocus towards new market segments, as the agriculture ands the wine growing, domains of activity considerably sustained by European funds.

In addition, Menatwork plans to increase its exports, from 6% in 2009 to over 10% in 2010, as in the previous year.

The group has been activating for over 15 years in Romania, during which its investments reached over EUR30 million, around 75% of the funds being directed towards infrastructure and production equipments.

Menatwork currently employs 450 people.

The group is also present in Italy, the Moldova Republic and Hungary.