Boromir value to double to 300m euros in five years

The value of Boromir Ramnicu-Valcea group, a major producer in the milling and bakery industry, will hit 300m euros in the next five years, according to estimates by Constantin Boromiz (photo), general manager and one of the shareholders of the group. The group owns bakeries in Buzau, Valcea, Sibiu, Medias and Deva, Cibin mill in Sibiu, Slobozia mill, two Comcereal-type units, Amylon Sibiu (a producer of starch and glucose) and Extrasib Sibiu (a pasta producer). The group’s turnover is likely to revolve around 600m RON (over 166m euros) this year, up 25% from 2007. In the first seven months of this year, Boromir generated 100.7m-euro turnover, 42% higher than in the same period of 2007, alongside a gross operating income worth 4.2m euros. The group now has 2,700 employees. Besides the money derived from the sale of bakery products, Boromir also makes money from real estate, wood and petrol stations. The group sells oil products through the three filling stations it owns in Valcea county. “I consider the investments we’ve made in other fields as ‘business labs’. So far, we’ve invested over 100m euros in all the group’s businesses. As regards the future of these investments, we plan to develop them and boost market shares,” says Boromiz. In 2008, the producer has earmarked total investments worth 5.5m euros.