Marex owner: There are few reasons for optimism in 2011

Brăila businessman Marin Moraru, who controls companies with a cumulated turnover of 140 million euros in agriculture and the food industry, says in the absence of other sources of funding, family businesses cannot pull out of the crisis, especially amid a continued consumption decline.

“The lack of lending, both for investments and for current production, the drop in consumption, the change of VAT and of other taxes, the impossibility of accessing loans creates a rather bleak and pessimistic picture of 2011,” says Moraru, who controls the group consisting of Marex, Stejar, Prodimpex and Vegetal Trading.

After posting a 4.5% turnover increase last year, to 146 million euros, the Brăila businessman hopes for a similar trend this year, relying on a project financed with European funds and on higher export demand. Products sold by Marex include meat products and Imperial sprits, as well as rubbing alcohol Marex.