Five Continents shareholder spends 5.5m euros for production of pressed cheese

Five Continents, a Bucharest-based producer of pressed cheese, one of the top five players on the market, according to the data provided by Nielsen market research company, puts this year’s turnover at 12.3m euros, 60% higher than in 2006. “The company closed 2006 with turnover worth 26m RON (7.7m euros), doubling its financial results against the previous year and this year we expect to register 60% turnover growth,” stated Hani Khalil, the company’s CEO and majority stakeholder. At present, the company owns 3 production facilities in Fetesti, Botosani and Valcea, with the latter two acquired in 2005. They have an overall area of 6,000 square metres and a processing capacity of 13,000 litres of milk. “In 2006, we operated investments of around 4m euros to modernise and expand production capacities. This year’s investments will amount to approximately 1.5m euros and are aimed at raising production capacities,” said Khalil. Around 20% of the company’s products are sold through international stores and the rest through traditional retail.