Elit Cugir: 25% higher sales in the first nine months

Cold cuts producer Elit based in Alba county, owned by businessman Dorin Mateiu, will start production in a new meat processing plant in Alba-Iulia in December, following an investment worth over 12 million euros. “The plant is almost completed and has a built surface area of 14,000 square metres. By the end of the year, we will start production, with the cold cuts to be sold under the Elit brand,” says Dorin Mateiu, chairman and majority shareholder of the company. Mateiu said company sales increased 25% in the first nine months of the year against the same time in 2005. “We intend to keep up this growth pace until the end of the year,” specified Elit’s chairman. The cold cuts producer, which owns a plant in Cugir (Alba county), closed last year with turnover worth 138 million RON (38.3 million euros), a 32% increase in RON against 2004. Elit reported a profit worth 8 million euros, as compared with 3.8 million euros in 2004. The president of Elit Cugir also said that in order to sustain its investment programmes, the company resorted to bank credits, SAPARD programmes, as well as to reinvesting its profit.