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Boromir left with three companies out of ten

Boromir left with three companies out of ten

Autor: Diana Tudor Stoica

02.09.2010, 23:57 21

The Boromir group in Râmnicu Vâlcea, leader of the Romanianbakery market, will be left with three companies out of tenfollowing a shareholder decision to conclude several mergers by theend of this year. The companies that will form the new group as ofnext year are Boromir Prod Buzău, Boromir Ind Râmnicu Vâlcea, andMoara Cibin in Sibiu.
"We have been pondering these mergers for a long time, but we onlymade the decision this summer. Some of the companies in the grouphave similar operations so there is no point in keeping separatebooks. Merger is a normal process of consolidating and streamliningour business and a means of cutting administrative costs. This wasthe reasoning behind this strategy," said Constantin Boromiz,shareholder of the Boromir group.
He added that each of the three companies left in the wake of themerger process will have four divisions, a milling division, afresh bakery division, one for products with long shelf lives(cakes, croissants, etc), and a division for specialisedstores.

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