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Iskra Avtoelektrika Expects EUR 252m in Sales Revenues in 2012

Šempeter pri Gorici, 05 March (STA) - Car parts maker Iskra Avtoelektrika has adopted a new strategic plan, which envisages the group's sales revenues to stand at EUR 252m in 2012 and to grow to EUR 336m in 2015 and EUR 450m in 2020. The plan was approved by the supervisors on Friday, along with the management's report on the possibilities for a capital increase.

By focusing on programmes with mutually independent market trends (car electronics, drive systems and mechatronics), Iskra Avtoelektrika reduces the risks of the impact of possible new crisis peaks, the company wrote in a press release on Monday.

According to the press release, the focus on niche market segments will enable the company to grow in the long term even without strategic partners, however, a capital increase may help secure this growth and ease new high investments in research and development.

The company's planned long-term development is based on its own R&D and orientation to new green technologies. This strategic orientation may affect the sales structure with a shift from the currently prevailing heavy machinery sector to the sectors of cars, small electric vehicles, vessels and alternative energy sources.

The strategic plan also envisages spreading to new markets, in particular South America, India, and the countries of the former Soviet Union, the press release goes.

Iskra Avtoelektrika plans to reduce costs through optimisation of global shipping flows, specialised production, modern IT support, lean management, ISO standards and the EFQM excellence model.

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