Investment pays off for Vincon

Vincon Vrancea, one of the top four players on the wine market announced it made a turnover of 15.9 million euros (58.1 million RON) in the first nine months of this year, an increase of 25% on the same time in 2004. It also posted a gross profit of 1.1 million euros (4.1 million RON), nearly three times higher than in the first three quarters of last year. “The investments made over the last two years are starting to take effect, both those made in the retooling of the bottling lines, in the cultivation of grapevines, and in brand promotion,” stated Georgel Costache, Vincon Vrancea”s general manager. Costache added that the investment budget had exceeded 5 million euros this year alone. “We took out SAPARD funding worth 2 million euros to retool our winemaking equipment,” Vincon Vrancea”s general manager specified. The company invested another 3 million euros in acquiring and planting grapevines. Its vineyards have increased from a total 831 hectares in 2004 to 2,150 hectares this year, after the expansion in the Husi area and the association with viti-viniculture organisations in south-east Romania. ZF