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Profits up 20 0 /0 as Willi Betz looks East GERMAN OPERATOR
Page 13
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Willi Betz plans to expand in Eastern Europe after a successful financial year, despite its ongoing battle against accusations of bribery.
The group improved its turnover by 20% to €760m (£518m) last year, and expects this figure to rise again in 2007.
Dr Andreas Bunz, manager at Betz, says: Judging by the growth momentum, 2006 could turn out to be one of the most successful years in the past decade.
"We are profiting from stronger economic growth and the export boom," he adds. "In particular, we are benefiting from the results of the diversification initiated by the firm's founder Willi Betz.
A major contributingfactortothe success is Bulgarian group member Somat, which has been particularly successful in Eastern Europe.
The Eli-funded TR ACECA project (Transport Corridor EuropeCaucasus-Asia) will bring an investment of €100m (£68m) to the West-East route following the historic Silk Road. Betz is among operators planning to take advantage of this route and is continuing to expand at its home base in Reutlingen, Germany. • Willi Betz managing director Thomas Betz is currently on trial for fraud, bribery; tax evasion and falsification of records. The trial started in the middle of last year and is expected to continue at least until the summer.