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It has been shown repeatedly that, according to the unwritten laws of economics, the natural and normal way of organizing the policies of certain companies is represented by focusing on activity types able to ensure the maximization of profits or, as a worse case scenario, avoiding - on a short term - to drop below the profitability threshold. Otherwise, there are only two possible options: company reorganization or its orientation towards other demand segments. If so far there have been several options on the first variant, probably generated by low-performance crediting lines, it seems that the respective solution can no longer be successfully applied, the market already facing a much too harsh offer decline. Therefore, it is necessary to focus all efforts on identifying those temporary solutions, which could lead to a demand growth, at least until a sector industry re-launch and funding system relaxation.

The current circumstantial solution is that of accessing the opportunities offered by the pre-election period, various populist programs being usually implemented during such timeframe, in view of drawing the population with voting rights to the side of one party or another. The local election campaign has already proven that the described rule applies automatically, most municipal administrations identifying with strange promptness funds for infrastructure or thermal rehabilitation works for existing buildings. Therefore, it is likely - obviously according to the European agenda, which is currently quite full due to the challenges generated by the sovereign crisis - that during the months previous to general elections, the government may earmark quite significant amounts to similar actions. Also, we might even witness the highly publicized redistribution of a part of cohesion funds to renovation projects, unless the European Council and European Commission decide that the respective amounts should be used for extreme emergency situations, such as, for example, sustaining the Spanish banking system. As we notice, there are many implications expanding to levels undreamt of a while ago. Despite all that, if another solution is identified for community issues, chances that public funding for certain projects be enough for ensuring a genuine lifeline for the local joinery sector are quite high. However, for such a scenario to be possible, both authorities and companies must become professionally involved, as it is well-known that European financing programs are exclusively intended for technically and economically flawless projects. This is the only priority criterion according to which the amount to be provided to Romania in the given conditions will be decided upon. The latest information confirms the fact that we have almost adopted the financing variant based on the following system: 50% cohesion funds, 30% local public authorities’ contribution and 20% beneficiary’s investment. We should mention that European officials have insisted on the obligation of having a user’s contribution, considering that the alternative of implementation without such contribution rendered catastrophic technical results. The latest evaluations indicate that the total amount transferrable from cohesion funds is approximately EUR 300 million, it remaining to be seen which of the targeted countries will manage to draw a significant part of this amount.

The problem of rehabilitations is quite complex and is not restricted to replacing current wooden windows with heat insulating ranges. A point to be carefully analyzed is that of new units’ performances: if materials used for their execution are inadequate in terms of performance characteristics (for various reasons, from the low price claimed by the contracting authority up to companies’ desire to increase profitability), then it is clear that the entire program becomes completely useless, and the only advantage (if any) is definitely aesthetic. On the one hand, it is clear that, for a price of EUR 50 /sq.m, chances of manufacturing and installing a window able to observe the European standard (mainly in the sense of compatibility with the estimated use) are minimum, and the manufacturing company’s profit is null. On the other, as we are dealing with community public funds, waste is also to be avoided, particularly when we witness exaggerations, reaching levels like EUR 200 /sq.m. Therefore, we must keep a minimum balance and identify the best price level for all involved parties. Another questionable point is related to the rehabilitation market physical limits. Currently there are many regions in Romania where the respective programs were completed, in different quality conditions. The statistic data valid for Europe indicates that, during the economic crisis, the ratio between new and rehabilitation works changed from 50% - 50% to 30% - 70%, which says a lot on beneficiaries’ credit-worthiness and construction sector financing. However, Germany has identified a means to ensure a continuous work flow for joinery companies, the federal legislation stipulating regular improvements in the façade insulation level, which also implies the change of certain systems or even window replacement (already insulating). It is difficult to anticipate if the Romanian market will ever accept such a solution, but it was only mentioned to emphasize that there are viable and elegant methods to support the national economy, in conditions of full legality. Back to rehabilitations in Romania, it is clear that they have an undeniable potential, as we deal with the manufacture of a high number of units, which could help active companies to be relatively efficient and avoid bankruptcy.

On a medium and long term, the main development method is however represented by encouraging investments for the execution of new buildings, particularly considering that the demand countrywide (currently insolvent) is quite high. Financing sources can only be those accessed before the start of recession, being restricted to foreign investments (direct or by means of private funds) and local investments, with the help of the financing provided by Romanian banking institutions. For this segment, the impact of public authorities’ actions will be minimum, the respective category funds already having well-set destinations. It is not clear when such a recovery will take place, all competitors expecting recession to end at the latest by the end of next year. Unfortunately, the way political-economic events currently take place will not even allow big corporations to forward valid forecasts, although some opinions claim that a more optimistic approach is justified, the first indications of the end of crisis being to become obvious in the second part of this year. Until confirmation or refutation of such hypotheses, we recommend a cautious attitude and the orientation towards niches able to ensure acceptable profitability levels.