Prodlacta looking for buyers

The Employees Association of dairy company Prodlacta Brasov has recently sent a number of offers for selling the controlling interests held in this company to several producers in the sector, milk industry sources say. Lactalis or Yoplait, two major French producers that plan for a presence on the Romanian market might become involved in this business. Lactalis officials did not comment on their possible plans for an involvement in Prodlacta, while Yoplait’s could not be reached. The quoted sources say the Employees Association is asking some 3 to 4 million euros for its 51%. The company logged 4 million euro turnover for the first half of this year, down about 2 million euros from the same time in 2003. Prodlacta posted sales of 11.5 million euros and total debts of more than 1.5 million euros last year. The company management could not be reached for comment. Florin Popescu, the chairman of the Romanian Milk Industry Producers Association says Prodlacta’s current situation is unclear. “There is an investor that bought Prodlacta shares (the company is listed on RASDAQ i.e.), yet no one knows who that is. As far as I know, they haven’t got any offers for the stake they put up for sale,” Popescu said. ZF