Cersanit to build tile plant in Romania – report

Food

Polish bathroom fittings maker Cersanit will build a ceramic tiles plant in Romania to boost capacity by 17% and limit the impact of the strong zloty, its supervisory board head was quoted as saying on Thursday.

“It (Romania) is one of our home markets,” Cersanit’s supervisory board head Artur Kloczko told newspaper Parkiet. “We can’t yet give the exact sum (of the investment), but it’s going to be hundreds of million of zlotys.”

Cersanit bought land near Bacau in eastern Romania for the plant for €15 million ($21.2 million) from Polish floor-panels maker Barlinek. Both companies are controlled by Michal Solowow, one of Poland’s richest businessmen.

Cersanit sells a fifth of its production in dollars and its results suffered after the dollar sank earlier this year. It has scrambled to protect its bottom line by moving production abroad. (Reuters)

ADVERTISEMENT

Varga puts 2021 GDP growth at 7-7.5% Analysis

Varga puts 2021 GDP growth at 7-7.5%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New managing director at the helm of Wolt Hungary Appointments

New managing director at the helm of Wolt Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.