Food industry producer Pic Group Pitesti is planning to invest in seven supermarkets by 2010, each with an average of 7,000 sqm. The company opened its first supermarket close to the entrance to Pitesti on the Bucharest-Pitesti highway at the end of last year. "We're not afraid of competing with the major international supermarket chains despite their having the advantage of really extensive experience," said Cornel Penescu, one of the two shareholders in Pic Group. The group will begin construction of the second supermarket in February or March, said Penescu, but declined to reveal the location. "I cannot say where we are going to build our second supermarket because we would then experience land price problems," explained the Pic Group shareholder. Pic Group generated nearly 38 million euros in turnover last year, up 11 million euros compared with the previous year, and forecasts more than 50 million euros for 2005. "Last year there was an increase in food consumption and I anticipate the same will happen this year. We will focus on stores instead of launching new products in the foods industry in 2005," Penescu said. The group is not a food producer in the true sense of the word, but rather a processor of oil and sugar from specialised producers. ZF
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