September 20 (SeeNews) - Belgian-owned building materials producer Etex Building Performance, operating under the Siniat Romania brand, said on Monday that its turnover rose by an annual 10% to 145 million lei ($34 million/ 29 million euro) in the first half of 2021.
The increase was due to the company's decision to focus on the retail and residential segments, Etex said in a press release.
The diversification of the client portfolio and the development of the DIY segment also contributed to the company's positive results.
"This increase in sales, achieved in an economic context characterised by uncertainty, confirms the strategy we started implementing last year, with a focus on the retail segment, which continued to grow supported by the favorable evolution of residential constructions. However, we notice a stagnation in large commercial projects," Etex Building Performance commercial manager for Romania and SEE Andrei Popa said.
In February, the company announced that it plans to invest 5-6 million euro ($6-7 million) in a gypsum drying installation at the Rovinari thermal power plant in order to ensure the continued supply of raw material to its gypsum board factory in Turceni.
Also in February, Etex said that it expects its turnover to rise by 5-10% this year, up to 275 million lei.
Etex Building Performance is the regional hub for Southeast Europe of Belgian group Etex focused on production, logistics, technical assistance and development of new products.
The Etex Group operates in 44 countries in Europe, Latin America, Africa, Asia and Oceania, with over 17,000 employees in 121 production plants.
(1 euro=4.9481 lei)