Local Food Maker Sees Tough Year Ahead, Still Plans Large Investment
Although 2011 was a good year for agriculture and food producers, 2012 might not be as good, because of economic uncertainty and the droughts seen this year in Romania, a local food maker said Wednesday.
Iulian Paraschiv, owner of a group of companies with almost EUR160 million in turnover, said next year will be tough, since banks are more exigent when lending.
This year, however, his group has reported a 20% rise in sales, from some EUR150 million last year, as production increased.
The Paraschiv family has invested EUR7 million to widen output at several of the poultry farms.
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