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News Siniat Romania grows turnover in 2020 due to residential sector and office redesigns
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Siniat Romania grows turnover in 2020 due to residential sector and office redesigns

Written by Global Gypsum staff
17 February 2021
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Romania: Siniat Romania increased its turnover by 6% year-on-year to Euro51.3m in 2020. It attributed this to a growing residential sector, higher demand for logistics spaces and the need for adapted office due to the coronavirus pandemic, according to See News. The subsidiary of Belgium-based Etex Group expects turnover to rise by 5 – 10% to around Euro56m in 2021.

"The construction market in Southeast Europe was one of the most resilient economic segments in 2020. The shock caused by the spring lockdown was followed by a rapid recovery and by an increase in the second half of the year," said Etex Building Performance commercial director Andrei Popa.

The company operates two gypsum wallboard plants in the country and it holds an estimated market share of over 25%. Almost half of the output of the two plants is exported to 11 countries in Southeast Europe.

Last modified on 17 February 2021
Published in Global Gypsum News
Tagged under
  • Romania
  • Siniat
  • Etex
  • Belgium
  • Results
  • Export

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