Scandia Food gets EUR 22 million loan from Banca Transilvania
Scandia Food, the canned meat Romanian producer announced it has been granted a loan worth EUR 22 million by Banca Transilvania and by this, the bank becomes the main financial partner of Scandia Food. 2013-11-27 15:35:30
The company will use the money to pay the ongoing credits and investments in technology and business operations, according to a release. Andrei Ursulescu, general manager of Scandia Food stated that the new loan marks a new stage for the company development.
Scandia Food is the market leader in the Romanian meat based cans market, with a volume market share of over 54 percent (source: MEMRB, Jun-Jul 2010), up almost 1 percent year-on-year. In the largest category of this market; liver pate, Scandia Food reached in Jun-Jul 2010 a volume market share of over 70 percent, up almost 3 percent year-on-year. The company has 650 employees and reached a total turnover of RON 203 million in 2009, up 1,7 percent compared to 2008.
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