Business News

Revoz Boss Says Company Had Record Year in 2009

Ljubljana, 11 January (STA) - The Novo mesto-based subsidiary of French car maker Renault saw a record year in 2009, generating EUR 1.28bn in revenues and EUR 20.6m in net profit. Revoz chairman Ales Bratoz however told Monday's business supplement of the daily Delo that the company expected a lower output this year.

"We worked very well in the crisis, we surpassed the previous record output by more than 12,000 cars. The total production was at 212,680," Bratoz told Delo FT about the 2009 results of the company assembling Renault's Clio II and Twingo cars.

Revoz will probably work at full capacity in the first part of 2010, while the second part could see a drop in orders and consequently a decrease in output, he said. This could result in abandoning the third shift.

"If we have to work in two shifts, we will have to reduce the number of workers," Bratoz said, adding that cuts in wages would be discussed only if the output decreased drastically.

While in early spring of 2009 Revoz could hardly keep pace with a surging demand, it seems that the production in 2010 will calm down.

Bratoz said the main reason was that Twingo was entering the fourth year of production and that government incentives for new cars would expire in some countries. Incentives in France will still be in force, but will be reduced gradually.

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