Romanian Covalact aims at growing sales revenues in 2010 in Romania
2010-07-11
In 2010-2011, the dairy manufacturer Covalactplans to invest over €1.3m in boosting the quality of its products, diversifying its portfolio, and increasing its production and logistics capacities. The investment is adding to the previous €1.5m-investment made by Covalact over the past two years.
The manufacturer wants to invest an additional €1m in a new advertising campaign this year.
In 2010 Covalact expects sales revenues to increase by more than 10% compared to 2009, when the company turned over €25m.
Covalact is the leader on the Romanian cottage cheese market in terms of both value and volume. It is also among the 10 largest dairy producers (in terms of sales revenues) on a Romanian market populated by over 200 manufacturers. In Q1 2010 the dairy market in Romania contracted by some 3% year on year.
Founded in 1969, Covalact is now owned by the US investment fund SigmaBleyzer Southeast European Fund.
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