Romania's Siceram Sighisoara Delays Construction of 8.0 Mln Euro Brick Factory – Media

The company planned to build a new brick factory next year to meet high demand, but in the current situation has postponed the project indefinitely, Ziarul Financiar reported quoting Siceram Sighisoara commercial director Nicolae Neag.

Neag said that demand for building materials started to fall in the second half of the year and is now lower than a year earlier.

Falling demand has also affected other local building materials makers, such as the Romanian unit of Austria’s Wienerberger and Ceramica Iasi, the daily said.

Siceram Sighisoara expects 68 million lei ($24 million/18.5 million euro) in turnover this year, up 26% from a year earlier, Ziarul Financiar reported. Its net profit is expected to reach 14 million lei.

The company, based in the Mures country in central Romania, produces bricks under the Termobloc brand and tile under the Terra Rosa.

(1 euro=3.6797 Romanian lei)