La Fantana postpones its regional expansion plans for H2 2009

“Investments are on hold. This year we came close to making acquisitions in the Balkan region, but decided to postpone these. We will adopt a cautious approach regarding investments because of the economic crisis,” Cristian Amza, CEO of La Fantana Group, told Business Standard.

Regarding the effects of the financial crisis, Amza said that they will be felt in 2009. “If Romania is strongly affected, this wave will not last more than two years. La Fantana is able to overcome this situation without laying off employees.”

However, the company official said that “this crisis will result in unemployment and inflation.” Considering that La Fanatana’s employees are “used to annual 10-15 percent salary rises, if purchasing power drops, salaries will be pressured.”

Amza said that the crisis will not affect the position of La Fantana on the market, only its growth rate, considering that the company’s 2009 budget is not as optimistic as before. The firm’s main competitor on the Romanian market is Cumpana, which has a 16 percent share of the water cooler market.