“The plant will specialize products without E numbers and preservatives, and the traditional recipes and sour dough will be the basis of this investment (…) The new plant will be in the south of Bucharest in a non-residential area,” Nicolae Serbanescu, chairman of Vel Pitar’s board of directors, told ZF.
In all, Vel Pitar’s investments will amount to RON62 million in 2018.
Vel Pitar, the largest company in the bakery business, ended last year with RON396.6 million revenue, up 11% on 2016, according to the Finance Ministry data. The profit rose by 59% to RON15.7 million.
Romanians eat 95 kilograms of bread per capita a year, compared with 60 kilograms in the EU, according to the latest data available. The bread market in Romania is estimated at EUR1.8 billion, of which domestic production accounts for EUR1.1 billion, Vel Pitar officials previously said. (EUR1=RON4.6617)
(English version by Loredana Fratila-Cristescu)