Greiner to invest 1.4m euros

Sibiu-based plastic packaging manufacturer Greiner Packaging SRL has announced an investment plan of 1.4 million euros for this year, part of which has already been implemented. The company posted 3.6 million euros in turnover for the first five months of the year, an increase of 18.3% on the same period in 2004 and 12.5% above budget targets. "We turned over 7.8 million euros in 2004 and are expecting 8.4 million euros for 2005. The main reasons for this projected growth are the growth on the market, new products and the increase in clients. The market''s appetite for innovative, marketing solution-type packaging is on the increase," Lucian Ocos, Greiner Packaging sales manager, told ZF Transilvania. Greiner Packaging SRL was established in 1997 by a Romanian-Austrian partnership. Gre iner Austria became the sole shareholder of the Romanian business in 2001. From turnover of 240,000 euros and an estimated market share of 3% in 1999, Greiner''s business climbed to over 7 million euros in 2004, accompanied by a 48-51% market share. ZF