Bakery company Pan Grup Craiova concluded last year with more than 22 million euros in turnover (900bn ROL), up nearly 25% on 2003 when its turnover reached 18 million euros (684bn ROL). It posted gross profits of more than one million euros (44bn ROL), double its profits the year before. "Despite the downward trend on the bread market last year, which we ourselves felt, we witnessed growth, especially on the milling, biscuits, rolls and cookies segment," said Ion Busuioc, Pan Grup's chief executive. The company has estimated a 26 million euro turnover for this year (1,000bn ROL). Pan Grup will invest some 700,000 euros in buying and upgrading a 1,400 square metre warehouse near Bucharest. "On the one hand this warehouse will make it easier to reach Moldova and Dobrogea, while on the other it can be turned into a production facility, though we don't know for what products yet," Busuioc added. ZF
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