Avicola Brasov triples losses to over €5 mln

A significant share of the losses posted this year was registered in the third quarter, when losses rose to €3.71 mln.
Popa recently told Business Standard he intends to make the poultry producer profitable again next year. To achieve this goal, he plans to invest some €10.5 mln by the end of 2008, and modernize farms and production units according to European standards. He also plans to give up assets that cannot be used or modernized. The businessman also plans to lay off some 250 employees, from the current 750 employees.

Avicola was recently purchased by poultry producer Transavia Alba Iulia, also owned by Popa.

The domestic poultry market is worth some €1 bln, with Transavia, Agricola Bacau, Agrisol International, Avicola Crevedia and Avicola Calarasi as main players.