February 20 (SeeNews) - Romanian paving slabs producer Elis Pavaje said on Monday it expects its turnover to rise by 14% in 2017 to 184 million lei ($43.2 million/ 40.6 million euro) driven by new products development, investments and better promotion.
Elis Pavaje plans to develop new products in 2017 and make investments in production facilities and logistics, encouraged by the good financial results it achieved last year, the company's general manager, Emil Gota, said in a press release.
The company posted a turnover of 161 million lei in 2016, an increase of 11.7% on the previous year. The rate of growth was achieved by adjusting Elis Pavaje's strategy to opportunities in the domestic market. As construction projects financed from state or EU funds were significantly fewer compared to previous years, the company focused on selling its products to entrepreneurs developing projects financed from private funds. Also in 2016, Elis became a producer of asphalt and general contractor for infrastructure works, providing full services, from earthworks and drainage, to asphalting.
Elis Pavaje began its activity in 1991 as a small family business. Currently, it makes 9,000 sq m of paving slabs per day in its two factories located in Stoenesti, Prahova county, and in Petresti, Alba county, employing some 420 people.
(1 euro= 4.5244 Romanian lei)