MYO-O seeders up 15% this year

MYO-O Group, the majority shareholder of farming machinery producer Semanatoarea Bucharest, will make more than 15 million euro turnover this year. “Our market has plunged this year because the subsidies for farmers were down to one fifth of last year’s. We will, however, manage to maintain our turnover growth pace of 10-15%,” Catalin Costache, MYO-O deputy chairman said. MYO-O Group last year posted consolidated turnover worth nearly 14 million euros, with the gross profit estimated by the officials to reach 15% of that amount. “It remains to be seen whether we get the same result this year, as well, given that farmers are starting to sell their crops and we collect most of the payment for the products sold at this time of year,” Costache said. The MYO-O Group at the end of last week during the Indagra exhibition signed a partnership with Romatech Group, which represents 14 Italian farming technology producers in Romania. This partnership will result in assembling and producing various farming machinery at MYO-O’s facilities. ZF