CIA Aboliv obtains an 800.000 euros subvention | Progresiv

CIA Aboliv, the largest producer and processor of meat in Cluj County, obtained from the Ministry of Public Finance a subvention of 3.8 million lei (800,000 euros), which will be used to increase the production capacity, writes Globalmeatnews.com.

The grant is part of a program of the Romanian Government to support local companies. In addition to CIA Aboliv, seven other Romanian companies have been co-financed for their projects.

The total amount of CIA Aboliv's investments to increase production capacity has not been published. The company's decision comes in the context of rising demand for raw-dried products, both on the local market and in countries where the CIA Aboliv exports.

CIA Aboliv was launched on the market in 1992 and has a meat factory in Cluj County, a slaughterhouse and four own stores. Its brands - Brio, Apetit and Casa Jurdeana - are marketed in both Brio's own chain of stores and in Mega Image.

The company reported a turnover of 92 million lei and a net profit of 8.21 million lei in 2017, according to the latest available financial data.