Lapp Insulators Romanian Unit Targets 47% Rise in 2011 Turnover

BUCHAREST (Romania), March 3 (SeeNews) – The Romanian unit of Lapp Insulators Group targets a 47% rise in turnover 53 million lei ($17.5 million/12.6 million euro) this year, Romanian daily Ziarul Financiar reported.

"In the first half of 2010 the market stagnated as many projects were blocked or put on hold since 2009. In the second half, however, sales recovered to the levels of 2008 and there were positive signals,” Ziarul Financiar (www.zf.ro) quoted Lapp Insulators S.A. director general, Sorin Nutiu, as saying on Wednesday.

Lapp Insulators S.A. expects its output capacity to rise to 7,500 tonnes of porcelain insulators per month from around 6,500 tonnes currently. Its clients portfolio includes Siemens, ABB, Areva, Bohemia, E.ON, and the group's unit in Redwitz, Germany. The company expects to attract new clients from Switzerland, Canada, Thailand and Arab countries this year.

Lapp Insulators, which has its headquarters in the U.S., is a world-leading manufacturer of high voltage ceramic and composite insulators for the global electric utility industry. Its Romanian plant located in Turda, Cluj county, delivers high-voltage ceramic insulators.

(1 euro = 4.2015 Romanian lei)

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