BUCHAREST (Romania), April 19 (SeeNews) – The Romanian unit of Swiss-owned frozen bakery goods producer Fornetti said on Tuesday it has completed a 1 million euro ($1.13 million) investment in its factory in Timisoara, in the west of the country.
Fornetti Romania expanded its production capacity to 600 tonnes of pastry per month and bought 38 new vehicles for the distribution of its produce, it said in a press release.
At the end of 2011, Fornetti Romania entered insolvency with debts worth nearly 49 million lei ($12.3 million/10.9 million euro). The company exited insolvency in June 2015, posting a turnover of over 100 million lei at the end of the year.
Fornetti group was founded in Hungary in 1997 as a family business and was acquired in August 2015 by Swiss bakery products company Aryzta.
Fornetti has a network of 1,500 franchise partners in Eastern Europe and is present in 11 countries with more than 2,000 baking locations.
The group will enter German market this year and plans to extend on most European markets in the following years.
(1 euro = 4.4812 Romanian lei)