From acquisition and strategic partnership talk, the charcuterieindustry has in less than one year gone to insolvencies, businessreorganisations and redundancies, in the context where producerssaw their cash drain. While large producers went ahead and evenreported sales increases, medium-sized players such as Stenyon orMedeus gave in to lenders, with the first company already inbankruptcy. The insolvency swirl may soon engulf poultry producersafter Avicola Iasi, controlled by businessman George Becali, hasrecently entered insolvency proceedings in the wake of a decisionby Iasi Court of Law. The producer in the first nine months of 2009saw its revenues slump by one third, to 47m RON (almost 11m RON),from 71m RON (around 19m euros) from the same period of 2008. "Thesector is hurting, lacking the subsidies that were granted untillast year. Moreover, prices have not dropped, but on the contrary,they have risen. If we don't see more insolvencies in this field,the turnovers of poultry producers will certainly be hit by aliquidity shortage," stated Grigore Horoi, chairman of AgricolaBacau International, the second biggest poultry producerdomestically, with 72 million euros in turnover in 2009.
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