ROMANIA: Cris-Tim to invest 2 mn euros in the recently acquired Diavist Product factory | Progresiv
Cris-Tim, one of the largest meat processors in Romania, is to invest 2 million euros in the newly acquired factory from Diavist Product, said Radu Timis, Cris-Tim President, to Progresiv magazine. According to him, the plant is very modern, but investments in the technology area are required to be aligned to the necessary standards. 
The production unit is located in Magureni commune, near Campina and has a processing capacity of 20 tons of meat per day. Cris-Tim will begin production on March 1st, 2018 and will produce at full capacity.
"We made this acquisition for two reasons - we needed to increase our production capacity, but we also wanted to enter market segments where we are not, that is, medium-low.
Many of our customers believe that Cris-Tim is a brand of aspiring products (having premium and super premium ranges) and then we need to go in the medium, medium low range to reach the low economically potential areas. There are new products and new packagings that will be under the Alpinia brand, not under Cris-Tim", Radu Timis said.
Diavist Product, a company owned by the Cord family, was established in 2000 having a meat products production and marketing profile. Currently, the company is in insolvency.
The Cris-Tim Group reported last year a turnover of 122 million euros, up by 18% from 2015 and an operating profit of 10 million euros. Several companies are in the group: Recunostinta Prod-Com, that runs the cold cuts factory in Filipestii de Padure, Eco-Ferm, which operates the dairy production and processing division, Impex Cris-Tim, which is the ready-meals and store division, and Cris-Tim 2 Prodcom operating the division of meat and milk products.
