Agroindustriala Bucium acquires 300 hectares

Agroindustriala Bucium, a medium-sized competitor on the wine market, will acquire 300 hectares of vineyards in Vaslui county this year, after buying 10 hectares of vineyards in the same area last year. Currently, the company utilises 530 hectares of vineyard that is both company-owned land and rented land. The price of a hectare of vineyard ranges from 8,000 RON to 12,000 RON (2,300 – 3,500 euros), depending on the area and the quality of land, according to information provided by company representatives. “The acquisition will be mainly self-funded and if the resources are not enough, we may resort to bank loans,” Constantin Minciu, general manager of Agroindustriala Bucium, told ZF. The producer ended last year with a 26.8 million-RON (7.4 million-euro) turnover, up by over 70% against 2005.