Vegetal oil producer Agricover Buzau held by the Iranian investors that control Prodal ''94, which makes the Stalinskaya and Wembley beverages, logged 1.2 million euro (45bn ROL) net profit in 2004, up nearly 10% from the previous year, when it stood at 1.1 million euros (45bn ROL). The company posted 16.5 million euro (669bn ROL) turnover for the first quarter last year, from the 12.7 million euro (476.6bn ROL) in the same time last year. Agricover made 40 million euro (1,484bn ROL) turnover in 2003, against 21.7 million euros in 2002. Agricover will take out 26 million euro (1,000bn ROL) loans from banks in order to secure cash for its current operations. The vegetal oils market is currently undergoing consolidation. There were two major transactions last year by which US giant Cargill bought the two facilities of Topway Craiova for 30 million dollars and Expur Urziceni entered the sunflower oils market by acquiring the majority stake in Ulcom Slobozia. ZF
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