Sweet merger in the works

Agrana Romania Holding and Trading Company, a branch of the Austrian Agrana Group could merge by absorption into the companies Zaharul Romanesc and Danubiana Roman, in which it holds the controlling interests. The project will be debated by the shareholders of the two companies in mid-August. Zaharul Romanesc was established in 2002, following the merger of Agrana’s factories in Tandarei and Buzau. It logged 1,673bn ROL turnover and 92.6bn ROL losses. Danubiana posted 867.8bn ROL turnover in 2003, as well as losses of about 90 million ROL. The top players in the sugar-production industry in Romania are Agrana (35% market share), Le Marco, Zaharul Corabia, Zaharul Oradea, Zaharul Ludus and Fabrica de Zahar (Sugar Factory) Bod. ZF