“Demand for meat products is picking up, which is why we are making this investment,” said Luchi Georgescu, majority shareholder of the company.
The cold cuts manufacturer posted 131 million lei (EUR29 million) revenue and RON11 million net profit last year, when it had 530 employees, according to the Finance Ministry data. Meda Pro 98 has managed to keep its business growing since 2010, when it posted RON100 million revenue and RON1.4 million net profit.
Meda Prod 98 had been planning to expand into dry-cured meats, a premium segment of the market where volumes are lower but added value is at its highest in the industry, since before the crisis.
(English version by Loredana Fratila-Cristescu)