Zaharul Oradea prepares for EU accession

Zaharul Oradea, which is owned by French-German group Cristal Union and which had a turnover of 835 million euros last year, will invest 1.5 million euros each year in order to cope with the competition expected on this market after Romania joins the EU. “Of the 33 sugar factories that were operational in Romania before 1989, only eight are still in the sugar making business today and by 2007 there will be only four left. We are preparing for the time after accession, through an annual investment programme of 1.5 million euros. At present, sugar is not a profitable business, and the investment will be amortised in the long term after EU accession,” said general manager Corneliu Pentilescu. Zaharul Oradea makes sugar branded as Diamant and one of its main clients is Coca Cola. “Coca-Cola buys about 60% of out total output. We provide them with 90% of the sugar they need to make soft drinks,” said Pentilescu. ZF