Businessman Ioan Popa, who owns Alba Iulia-based Transavia and recently acquired the majority stake in poultry producer Avicola Bra[ov, expects the cumulated turnover of the two companies to exceed 100m euros in 2008.
Popa, who paid 4m euros to take control of the Bra[ov-based producer, will invest 10.5m euros in modernising the company by yearend, with the investment to be amortised within 3 years, according to company data.
"In 2008, we expect to derive turnover worth 100m euros, with Avicola Bra[ov's contribution to amount to 30m euros. Doubled production and the launch of a plant in Alba county early next year, which will supply finite products, are expected to drive turnover higher," states Ioan Popa. For this year, Transavia Alba-Iulia estimates turnover worth 50m euros and income worth 8m euros, according to company data.
"Transavia's turnover is 5 times higher than Avicola Bra[ov's, while the company has only 700 employees," states Popa, explaining the decision to make 260 employees of the Bra[ov-based producer redundant. As a result, from around 760 employees before the takeover, Avicola Bra[ov now has around 500 employees.
At present, poultry production at Avicola Bra[ov does not exceed 10,000 tonnes each year, but in the wake of the investment programme worth over 10m euros, production is now expected to double. Popa believes that once the new production centre in Alba county has opened, the company could begin to export semi-cooked products, but will remain primarily focussed on the domestic market.
According to the data provided by Popa, Transavia owns around 13% in Avicola Bra[ov, while the businessman has secured 51% of the Bra[ov-based producer's stock. Popa says he will focus on consolidating the two businesses, and is not interested in further acquisitions on the domestic market.
"Avicola Bra[ov will manufacture
