Business News

Revoz Reports Record-Breaking Sales Revenues for 2010

Novo mesto, 05 May (STA) - The Renault-owned Slovenian car assembly plant Revoz generated a record-breaking EUR 1.32bn in net sales revenues in 2010, whereas the net profit stood at EUR 18.6m. The Novo mesto-based company published the audited results after Thursday's shareholders meeting.

For 2009, the company posted sales revenues of EUR 1.28bn and a net profit of EUR 20.5m.

The company recorded its second best production result in 2010, as a total of 211,493 cars rolled off the assembly line, while it had produced 212,680 a year before.

The general meeting decided not to issue dividends this year and to transfer the EUR 60.74m of the 2010 balance profit to the next period due to Renault's planned projects and financial flow for the coming years.

Revoz meanwhile announced on Wednesday that it would scale down production in response to problems in the supply of car electronics from Japan following the March earthquake and tsunami.

The night shift at Revoz will be temporarily scrapped on 23 May and some 390 temps and 130 employees on fixed-term contracts will lose their jobs for the time being. According to public broadcaster RTV Slovenija, production would be reduced by 300 cars a day.

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