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German retailer Kaufland invested approximately 8 million EUR in its second Iasi-based hypermarket, which will be launched today, according to a company press release. This is the 27th Kaufland hypermarket opened in Romania. The store was built on a parcel of land totaling 20,056 square meters and has a retail surface of 6,603 square meters and a parking lot with 304 parking spaces. Kaufland plans to open another hypermarket in Iasi this autumn.
Kaufland eneterd the Romanian market in 2005, when it opened a hypermarket in the Bucur-Obor area of Bucharest. So far, the company has invested approximately 330 million EUR in Romania. This year, Kaufland plans to open 16 new hypermakets in our country, the investment totaling some 130 million EUR. The company"s long-term objective is to launch approximetely 50 new stores in Romania, mainly in medium-sized towns.
Kaufland ia part of the German concern Lidl & Schwarz Co&KG. Schwarz Group reported a turnover of over 40 billion EUR in 2006 and has over 166,000 employees throughout Europe. The German retailer owns over 800 hypermarkets in Germany, the Czech Republic, Slovakia, Poland, Croatia, Romania and Bulgaria.
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