Romania: grain trader East Grain earmarks EUR2.8M investment
East Grain, a grain trader controlled by several entrepreneurs of Romania and Hungary, has budgeted EUR2.8 million investments for 2022, with EUR1.3 million for own truck fleet and EUR1.5 million for purchases of new warehousing bases and for the expansion and retooling of the existent silo network.
The company completed EUR4 million investments last year, with the most important one involving the acquisition of a grain silo in Iernut, Mures county, with a 26,000-ton capacity.
East Grain group has 76 employees.
“We see 2022 as a more challenging year than 2021 due to the soaring prices of raw materials,” Tamas Vincze, East group CEO, told ZF Transilvania.
The company expects 23% higher turnover in 2022 on the year. Turnover at group level reached EUR153 million last year.
Source: ZFenglish