The top four companies in terms of sales, Wal-Mart Stores, ExxonMobil, Royal Dutch Shell, and British Petroleum, are not present in Romania, although this is the second- largest market in Central and Eastern Europe. According to General Electric's Executive Director for South-Eastern Europe, Dan Ionescu, the world's business giants are reluctant to enter the Romanian market because of low yields.
"A large company wants first to know all about the risks and does not only consider highly qualified labor force or market. It is also considers human resources, raw materials and time, the judicial framework, fiscal predictability and stability, facili- ties, and the political environment," Ionescu told Business Standard.
A spokesman for British Petroleum (BP), David Nicholas, told Business Standard that BP is not operating on all markets, but rather only on markets where it owns valuable assets and good market shares. "We do not have that in Romania, just as we do not have that in most Central and Eastern European countries," he said.
Wal-Mart Stores Inc.'s Senior Manager for International Corporate Affairs, Kevin Gardner, said "there have always been rumors and speculations regarding Wal-Mart operations on new markets, but as far as Romania is concerned... we have nothing to announce."
Other companies in the Forbes top 10 in terms of sales, which are not operating in Romania, are Chevron (ranked 7th) and ConocoPhillips (ranked 10th).
The fifth largest Forbes list company, General Motors, entered Romania in 1997 and owns a
subsidiary, which posted net sales worth €180 million in 2006 and imported 19,000 Opel, Chevrolet and Saab cars last year.
DaimlerChrysler, ranked 6th on the Forbes list, started operations in Romania this year, buying 51 percent of the local Autorom company. As of January, DaimlerChrysler imports Mercedes-Benz, Smart, Chrysler, Jeep, Dodge and Mitsubishi to Romania. French company Total, ranking 9th, established a joint venture two years ago with local Lubrifin Brasov.
As for the Forbes list of the largest market value companies, only three are operating in Romania: General Electric, Microsoft and Citigroup.Top Gel invests €10m. in ice cream factory
nicoleta.musat @standard.ro
Craiova-based Top Gel company, producer of Amadeus and Maxima ice cream brands, has invested more than €10 million in a new production unit located near the city of Craiova. The new factory has a daily 100-ton production capacity . The investment was made following increasing demand which could not be met by the existing production unit. The company plans to increase both its production and distribution networks and enter large retail chains, according to General Manager Asan Mic Adriean. "Statistics show 95 percent of our sales are currently in small shops," he said. The company plans to increase deliveries to large retail stores to 20 percent by the end of 2008, he added. The company estimates net sales exceeding €15 million, 90 percent higher year-on-year. It posted €8 million in turnover in the first semester of 2007. Top Gel, founded in 1994, is currently selling its brands on the local market, but is considering exporting its ice cream .
The company has a 12 percent share of the local ice cream market, estimated to be worth some €100 million. Major companies on the market are Swiss group Nestlé Ice Cream (which recently purchased Delta Ice Cream), Napolact (a subsidiary of Friesland Foods), Betty Ice Suceava, Alpin 57 Lux, Kubo Ice Cream and Prodlacta.
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