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Compa Sibiu exports reach 61 million euros in nine months
Automotive component manufacturer Compa posted 293 million RON (70 million-euro) turnover in the first nine months of the year, up 70% compared with the same time in 2009 and 23% higher than budgeted.Compa Sibiu (CMP) net profit rose to 6.24 million RON (about 1.5 million euros) in the first three quarters, from 0.42 million RON (0.1 million euros) in the same time of 2009, as a result of the strong rebound of business, driven by the high demand for exports.
"As a result of the increase in the volume of orders from our main partners and especially from BOSCH and DELPHI, the turnover rose by 69.5% in the first nine months of 2010, compared with the corresponding period of 2009," Compa's quarterly report reads.
The company officials also say that the production rose on all business segments and exports amounted to 87.7% of turnover, that is about 61 million euros, from 72.7% in the first nine months of 2009 (35 million euros).