Vel Pitar headed for 60m-euro turnover

Milling and bakery company Vel Pitar Ramnicu-Valcea anticipates to see 2,571bn ROL (63 million euro) turnover this year, 60% higher than the turnover logged for 2003, 1,585bn ROL. “The growth will occur against broader and bigger production following the takeover of the facilities in Iasi and Targu Jiu last year,” stated Dan Trifu, Vel Pitar’s Finance-Strategy department vice-president. The company, created by the merger of Mopariv Ramnicu-Valcea, Berceni Bucharest, Granpan Tecuci and Mopariv Cluj-Napoca is one of the main producers on the domestic milling and bakery market. Vel Pitar in 2003 took over Gorjpan Targu Jiu and Pangran Iasi, after having merged with Spicul Arges Pitesti by absorption in 2002. It is set to acquire three more entities by the end of the year, Panificatie Postavarul Brasov, Panem Giurgiu and Libertatea Bucharest. Vel Pitar makes 7,500 tonnes of bread products, some 300 tonnes of biscuits, 10 tonnes of wafers and approximately 120 tonnes of pasta a month. The milling capacities of the company grind upwards of 12,000 tonnes of wheat every month. Trifu estimates Vel Pitar’s market share reaches 5% for bread products, 5.6% for biscuits and 0.5% for wafers. ZF