Food group European Drinks has invested more than 10m euros in flour production facilities (mills) over the past two years and this summer will launch Regal-branded flour for home use, said Ioan Micula, chairman and one of the owners of the group.
"We intend to launch corn flour and wheat flour under the Regal brand this summer. The new products will be made by Star Mills company, part of European Drinks," said Ioan Micula. He specified that European Drinks had invested over 10m euros in Star Mills in the last two years.
"Production capacity stands at 630 tonnes per day," Micula said, without disclosing the targeted market share. The company also sells tomato sauces and mayonnaise under the Regal brand. Flour produced by Star Mills will be partially used for the other plants within the group and the rest sold as a finite product. "We never make investments that are not linked to our current activity. In this case, more than half of the total quantity of flour will be used in the production of the group''s other plants, for wafers, pasta and macaroni," he also said.
European Drinks'' Regal brands will compete against products made by Loulis, Dobrogea Boromir and Baneasa.
"The flour market is highly competitive and consumption is rising," Micula also said.
European Drinks is the biggest domestic group in the food industry, with turnover put at over 500 million euros annually.
The company owns Izvorul Minunilor mineral water brand, Regal sauces, Fruttia juices, Naty wafers, and Burger beer. The group belongs to Ioan and Viorel Micula and holds industrial platforms in Bihor county.
"In the first six months of this year, our sales rose by about 13.5% in euros against the corresponding period of last year. Exports surged 200%," the European Drinks chairman specified. The company exports products to the European Union and to the Republic of Moldova, Russia, Sweden and Saudi Arabia.
georgiana.stavarache@zf.ro
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