TALLINN — The economic recovery in Estonia’s Western European trade partners is being felt by the insulating foam and joint sealant manufacturer Krimelt.
The Estonian company increased its turnover by 50 percent within a year, the company reported Monday. Krimelte’s consolidated turnover during the first half of 2010 was €28.3 million with most of the income comes from export sales.
The company predicts the positive trend to continue during the second half of the economic year, but CEO Alar Salum warned that overall outcome of the economic year might still show a somewhat more conservative growth percentage of the company’s turnover.
“Despite the good start-off, we are still closely monitoring the situation on the export markets since not all the markets are recovering from the crisis identically,“ Salum said in a statement to the press. “However, we still see ourselves meeting our budget during the second half of the year, which gives us reason to expect an overall annual sales growth of 25 percent.”
This article is free to view. To read Baltic Reports’ subscription-only articles, click here.