EnglishThe company Avicola Braşov, controlled by businessman Ioan Popa, owner of the Transavia Alba-Iulia group, intends to take out a 50 million lei production loan for a period of one year. The shareholders will discuss on December 8th the pledging of two plots of land- one of four ha and another of over 6,000 square meters - the assigning of the current account of 56.856 million lei, as well as the issue of a promissory note of 5.682 million lei in favor of Banca Transilvania, endorsed by Ioan Popa.
Avicola Braşov was taken over at the end of August 2007 by the Transavia group of Alba-Iulia. The chairman of the group was also appointed as leader of the Board of Administration of Avicola. At the time, the company"s shareholders approved increasing the share capital to 23.4 million lei, by means of an 18.3 million lei cash contribution.
The Transavia group last year invested 10.5 million Euros in modernizing and increasing the production capabilities of Avicola SA Braşov. According to Transavia officials, the investments included modernizing the slaughterhouse, the incubator and the chicken farms. The company also closed down the egg production division, due to its lack of profitability.
Avicola Braşov last year had a profit of 2.77 million lei, after posting losses of 30.46 million lei last year. The turnover of the Braşov based company increased 30%, from 55.5 million lei to 73.2 million lei.
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