English
Avicola SA - Iasi has decided to close the production halls near Iasi and focus all production activities on Razboieni Park, which will also host the company"s offices. "Some 90% of our production capacity is concentrated in Razboieni, so we have decided to close the farm near Iasi in order to cut costs and reorganize. We also continue the modernization program. Last year"s investments totaled 2 million EUR, whereas for this year we have already contracted 730,000 EUR," said General Manager Corneliu Rosu.
He added that, during the rollout of modernization measures, approximately 75 employees would see their employment contracts suspended and be paid 75% of their regular salary. According to the privatization contract, the new owner has the obligation to maintain at least 300 employees. The company operates chicken farms and fodder factories and is 85.07% controlled by George Becali, who lent some 12 million EUR to the company.
At the end of September 2007, the company reported a gross profit of 1,179,240 RON and a turnover of 23,113,313 RON. The company managed to reduce operating costs and financial losses and landed a 325,129 RON increase in profit from September 2006.
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