ROMANIA: Cris Tim to invest 5.5 million euros in ready-meal | Progresiv
Cris Tim, one of the largest food manufacturers in Romania, plans to invest 5.5 million euros in the development of the ready-meal segment, said Vladimir Manastireanu, Vice President of the company, to Progresiv magazine. 
The investment will take place in two phases, the first phase being about expanding and upgrading the catering department. The project will be completed in October and the value of the investment is 1.5-2 million euros. For the next year Cris Tim has plans to construct a new ready meal factory in Filipestii de Padure, the investment being about 4 million euros.
25% growth of the business in H1
In terms of performance, in the first six months of this year Cris Tim reported sales growth of 20-25% compared to the same period of the previous year. Also, the company’s sales increased after the VAT reduction.
Several companies are part of Cris Tim group: Recunostinta Prod-Com that manages the sausage factory from Filipestii de Padure, Eco-Firm that operates the milk production and processing division, Impex Cristim that represents, among others, the stores chain and Cristim2Prodcom that operates the distribution division for meat and milk products. Last year, Cris Tim reported a turnover of about 90 million euros.
