Agroalim Distribution, a company held by the American-based Smithfield, which operates in the food industry, forecasts turnover worth 100 million euros this year, up 42% against 2007, according to Bogdan Grama, the company's general manager.
By the end of the year, Agroalim could catch up with its main rival, Macromex, which has also set a target of 100 million euros for 2008.
In 2006, the distance between the competitors, the main two players on the refrigerated and frozen foods distribution market, stood at around 30 million euros.
In terms of volume, Agroalim's turnover will top 50,000 tonnes in 2008.
"Last year saw a high level of investments for Agroalim. Basically, all 10 logistic bases were retooled or rebuilt, with the main objectives being compliance with EU norms, and the expansion of storage and distribution capacities. In addition, the vehicle fleet was also improved," said Grama. However, he refused to specify the value of last year's investments.
Recently, Transfrigotren, a company that was acquired by the American group in 2006, was rebranded Agroalim Logistic. "The logistics company, which started operating under this name in 2008, will continue to develop logistical services, which are primarily dedicated to temperature-controlled products," specified Grama.
Last year, Agroalim Distribution, one of the leading distributors of temperature-controlled products on the local market, posted turnover worth 70 million euros, up 18% on 2006. Smithfield became a shareholder of Agroalim in 2005, when it purchased 50% of the company from Lebanese businessman Mounir Halawani.
The American company also acquired from Halawani a 50% stake in logistics company Frigorifer Tulcea, which, at the time, held the largest refrigerating storage facility in Romania.
In 2004, Smithfield had acquired Agrotorvis (currently Smithfield Procesare) and Comtim Grup for 33 million dollars (27 million euros).
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