Business News

Kolektor Made EUR 350M in Sales Revenues in 2010

Idrija, 14 January (STA) - Kolektor, the Idria-based industrial group, made EUR 350m in sales revenues in 2010, a third of which was made abroad. Revenues are expected to stay at the same level in 2011, Kolektor CEO Stojan Petric said in Idrija on Friday, pointing out that the company managed to overcome the economic crisis sooner than expected.

He added that Kolektor's net profit will be around 5 and 8% of the revenues in 2011, as was in 2010.

According to Petric, added value per employee has increased from EUR 40,000 before the crisis to EUR 47,500.

At the end of 2010, Kolektor employed 2,961 people, 2,148 of them in Slovenia.

"We used this crisis for investing so that we will increase production in the future and with it the sales," Petric stressed.

In 2009, 2010 and 2011, Kolektor will invest over EUR 65m in production facilities and equipment. Half of the funds will come from the company's purse and the other half from loans and subsidies.

Only this year, the company plans to construct new machine building facilities in Idrija, a production plant in Ljubljana and start building production facilities in Bosnia-Herzegovina, China and Germany.

Petric presented the estimates and plans at the opening of Kolektor's Hotel Jozef, while the company is also building an elderly home in Idrija in a public-private partnership.

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