Pesticides boost Procera's business by 140%

Procera, a company specialising in the production of pesticides saw a 140% increase in its financial results in the first quarter of this year against the same time last year. This year the company also intends to invest 10 million euros in a biodiesel plant. “The growth was prompted by the expansion of our portfolio of pesticides and seeds, which we supply to Romanian farmers, as well as by the development of our distribution network,” stated Dana Dumitru, CFO of Procera. According to company representatives, pesticides still provide a solid development basis for Procera, but a big contribution to the results seen in the first quarter came from the Agrocredit funding programme for farmers. “We need additional financial resources in order to sustain the present growth rate, that is why Procera signed two financial agreements with Raiffeisen Bank and the BRD, which in total amounted to 6 million RON. These financial resources will be used both in our daily activity, and also to co-finance the investment in the biodiesel factory that Procera is developing,” said Dana Dumitru. The company will invest around 10 million euros in a biodiesel plant, covering a 23,000 square-metre surface area, with a production capacity of 33,000 tonnes a year. “We are hoping to start construction in May, after we get the necessary environmental permit, with biodiesel production planned to start in November this year,” added Dumitru.