Smithfield expanding in Romania

The world’s largest meat processor, the US’ Smithfield company ($9bn sales in 2003), is further expanding on the Romanian market. Thus, it has entered negotiations for the acquisition of the rest of 30% in former Com-Tim Timisoara swine fattening complex, currently held by Comtim Grup whose majority shareholders are a Romanian investor residing in Australia, Nick Cojocaru, and a group of Australian investors. Smithfield has initially bought 70% in assets of Com-Tim from a group of Italian investors making up Agrotorvis firm. In the wake of some successive transactions sealed this year, Smithfield has come to own 22% in Spanish charcuterie producer Campofrio Alimentacion that is present on the Romanian market through Tabco-Campofrio (sales of 22 million euros in 2003). ZF