Romania's forest administration company Romsilva will end this year with a gross profit of over EUR 29 million, up by 30% over last year and a turnover of EUR 321 million, up by 15% compared to 2013, said Romsilva general director Adam Craciunescu.

"We managed to double our own investments in 2014 up to EUR 17.8 million, money that was directed towards the equipment purchase, which is the engine of economic growth. The measures we have taken insured a great transparency in the timber tenders," Craciunescu added, cited by local Economica.net.

Romsilva has been part of the Ministry of Environment and Forests since 2010 and manages more than 3 million hectares of forest owned by the state, with approximately 18,000 employees.

editor@romania-insider.com