The sale of the corn processing facility in Vadeni was proposed by the Executive Board and was included on the agenda of the general meeting of shareholders due on September 28, 2021.
Germina was established in 2019 and is engrossed in production activities in the localities of Braila, Dambovita, Tecuci and Urziceni.
Germina was severely hit by the drought in 2020 and has focused in 2021 on liquidating seed stocks and recovering account receivables. In the first half of 2021, Germina sold the Aristide Pascal and Braila locations, raking in revenue of RON7 million.
Germina ended the first six months of 2021 with a turnover of RON12 million and a net profit of RON1.2 milion.
Rodbun Group exploits some 10,000 hectares of land, holding farms in most regions in Romania, as well as three seed processing and conditioning plants, a team of over 500 people and 50 farm stores.
Rodbun Group holds one of the most powerful logistics infrastructure on the agribusiness market, with regional logistics centers, regional warehouses and grain storage facilities.