Romania's Angst posts 50% higher revenues in 2007, to EUR 60m

Angst, one of the key players in the Romanian meat processing industry, posted revenues of approximately 60 million euros last year, up 50 percent against the previous year, according to the company's president Sorin Minea.

Revenues in 2006 stood around 40 million euros. The company planned investments of at least 6 million euros this year.

"We have a SAPARD program which ends this year and another one on going. The rest of the money will be invested in the stores network, production and distribution," Minea said.

Angst reached 45 million euros revenues in the first nine months of 2007, a 30 percent increase from the same period last year, the company's vice-president, Stefan Padure said in November. In 2008 the company angles to expand business to three ranches with some 1,000 cows.

Angst opened a new store in Cluj, central Transilvania, and three more in Oradea, western Romania, in September and October. Angst owns three meat factories, one for milk and milk products, a cow ranch and 23 specialized stores of which 18 in Bucharest.

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