Veritas Panciu hit by hail

Sparkling and still wines maker Veritas Panciu estimates the hail that has hit its vineyards in the last four years caused about 10 million euro (300bn ROL) losses. “The authorities have done nothing to install the anti-hail equipment yet, and the danger of hail hitting again this year really scares us. This natural calamity made our investment fund allotment stagnate,” says Adrian Toma, the general manager of the company. Total revenues reached 4.5 million euros (180bn ROL) last year, slightly up by about 300,000 euros on 2003. “If we are not struck by natural calamities again, we will make 200bn ROL (more than 5 million euro) turnover,” Toma says. Veritas Panciu will invest 30bn ROL (approximately 800,000 euros) in the modernisation of the winemaking centre and allocate 60bn ROL (1.5 million euros) in 2006 in order to replant 93 ha of vine. It is one of the medium-sized players on the market of sparkling wines, and uses the champenoise method. ZF