Austria’s Agrana purchases two more Romanian sugar plants

By bne IntelliNews February 6, 2014

Austrian group Agrana Zucker will take over the two sugar plants owned by Romanian sugar producer Lemarco, located in Urziceni and Liesti, Adevarul daily informed.

Agrana is already the largest sugar producer on the Romanian market with some EUR 275mn revenues in 2012, while Lemarco is the fourth largest player with EUR 31mn revenues. The deal needs, however, the antitrust body’s endorsement.

Agrana plans to increase its sugar beet production, but also to expand its sugar refining activities in order to consolidate its presence on the Southeast European market, Agrana CEO Johann Marihart said in a press release.

Lemarco owners are US resident George Gellert [50%] and Romanian residents Penciulescu Cristian [10%], Neculai Maratas [20%] and Mircea Radina [20%]. The company’s revenues narrowed three times y/y to RON 138.5mn [EUR 31mn] in 2012. The net result turned from a RON 20mn profit in 2011 to a RON 59.1mn [EUR 13mn] loss in 2012.

Agrana already operates two sugar plants in Romania, located at Buzau and Roman. The company produces the Margaritar and Coronita brands.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Romania, Bulgaria seek China’s support for third Danube bridge

The third bridge over Danube between Romania and Bulgaria will be part of a package that four Balkan countries — Romania, Bulgaria, Serbia and Greece — will offer China for funding, the prime ... more

Slovakia battling Romania for Chinese electric carmaker Zhi Dou's plant

Slovakia could have another carmaker on its already soil. Chinese Zhi Dou, a producer of electric cars, has narrowed down its choice on where to build a European factory to Slovakia or Romania, the ... more

Romania’s government insists anti-corruption head Kovesi must go

Romania’s government has appealed to the Constitutional Court after President Klaus Iohannis refused to endorse the government’s request to dismiss anti-corruption head Laura Codruta ... more

Most Read

  1. Europe pushes back against US sanctions on Russia
    3 days ago
  2. Romanian developers get in the game
    8 days ago
  3. BRICKS & MORTAR: Infrastructure investments create new real estate hubs in Bucharest
    2 days ago
  4. Putin and Trump trying to walk back Syria strike and sanctions tensions
    8 days ago
  5. What’s the cost of US sanctions on Russia?
    9 days ago
  1. Fears raised of US conditioning F-35s sale on Turkey cancelling S-400 deal with Russia
    30 days ago
  2. Europe pushes back against US sanctions on Russia
    3 days ago
  3. Romanian developers get in the game
    8 days ago
  4. COMMENT: Whisper it – ‘Erdonomics’ could be driving Turkey to a meltdown
    17 days ago
  5. Putin and Trump trying to walk back Syria strike and sanctions tensions
    8 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss