Boromir set up a joint-venture with the largest cereals collector in France | Progresiv
Boromir, one of the largest groups of the local milling and bakery industry, announced an agreement with French group Kalizea, through which the two companies will form a joint-venture in Romania. The new company is called Kalizea Boromir and is controlled by the French, with a 60% stake in the share capital. 
"The object of the agreement is the creation of a joint stock company with a capital of 112,500 RON, the equivalent of 25,000 euros, with 40% participation of Boromir Prod. The registered office of the newly created company will be in Slobozia, Ialomita county, and will be called Kalizea Boromir", according the press release sent by Boromir to the Bucharest Stock Exchange.
Boromir representatives stated that the agreement signed with the French does not entail any transfer of assets from Boromir group towards the newly established company.
Kalizea is a company specialized in growing milling industry corn and is part of the agricultural cooperative Vivescia, headquartered in France, where it reported a turnover of 3.6 billion euros and total collected volumes of 4.2 million tons of grain in the financial year 2014-2015. According to data published on its website, Vivescia is the largest collector of cereals in France and the second largest European corn producer.
Boromir group, controlled by three Romanian shareholders - brothers Constantin and Gheorghe Boromiz and Mircea Ureche – comprises of Boromir Prod Buzau (92.6 million lei turnover and 480 employees in 2015) Boromir Ind Ramnicu Valcea (236.2 million lei turnover and 678 employees) and Cibin Mill in Sibiu (115.4 million lei turnover and 238 employees).
