The company targets turnover in 2008 of €150 mln and EBITDA of some €12 mln, 60 percent higher year-on-year.
Vel Pitar plans to invest €12.5 mln to acquire new production lines, implement specialized software and relocate production units in Bucharest.
Some €2.5 mln will be invested in promotion campaigns and the launching of new products.
According to company estimates, Vel Pitar has a 15 percent flour market share and 9 percent of the baked goods market. The company has 30-35 percent of the Bucharest market share.
