“We ended last year with 43.2 million lei (almost EUR10 million) revenue and 174 employees, ” Mihut told ZF.
The company will buy 30 trucks this year and spend a little more than EUR2 million on them and will hire another 30 drivers, considering the high volume of freight Frigoexpress expects to carry. The fleet will thus increase to 120 trucks.
The company, which went insolvent in the summer of 2013, had its reorganization plan approved in November. Creditors agreed to the application thereof over 36 months starting December 2014. The court-appointed trustee of the insolvent transporter is Casa de Insolventa Transilvania and creditors include BCR, Banca Transilvania and Romania’s tax authority, ANAF.
The plan includes payment of 55% of the debts to creditors out of a RON60 million total and expansion and renewal the fleet for the company to be able to carry out its contracts.
“We want to consolidate our position on the domestic and international market,” Florian Mihut said.
Frigoexpress works with customers from the meat, dairy and fruit and vegetable industry and also carries freight for the largest hypermarkets in Romania. It also has contracts with Carrefour, Billa, Lidl and Unilever for shipments abroad.
(English version by Loredana Fratila-Cristescu)