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Smithfield Increases Investment in Romania

by 5m Editor
16 July 2008, at 10:32am

ROMANIA - Smithfield Foods, the US pig meat processing giant, is to invest about €100 million this year in its farms in Romania.

The investment, according to Ziarul Financiar, will be aimed at doubling the number of farms it operates and to build a combined fodder plant.

The project is part of the company's $1 billion (€600 million) strategy that it announced when it first invested in the country in 2004 with the purchase of the Comtim plant at Timisoara.

"We now operate 25 farms, but we have 10-15 farms under our authorisation and 10 under construction (...)," Bogdan Mihail, general manager of Smithfield Ferme told Ziarul Financiar. Smithfield Ferme posted turnover worth around €100 million in 2007 and this year expects turnover to rise by 15-20 per cent.

View the Ziarul Financiar story by clicking here.

5m Editor