Avicola Crevedia wants 10m euros for SAPARD projects

Poultry producer Avicola Crevedia intends to take out credits worth a total of up to 10 million euros from Finans Bank to cover the co-funding of projects that the company wants to carry out through the SAPARD programme. Its shareholders last week approved the decision to take out credits and pledge company assets as security therefor. Company representatives could not be contacted for more information. Most of the leading local poultry producers started significant investments this year, although they were seriously hurt by the bird flu. Transavia Alba Iulia started construction work of a plant that is to produce semi-cooked and cooked poultry products near Alba-Iulia, worth 10 million euros, while Agricola Bacau will invest 9 million euros in poultry farms. Avi cola Crevedia, located in Dambovita county, owns 11 chicken farms and a slaughterhouse. It is controlled by the Lebanese company Agricola Holding, which owns 51.1% of the shares. Agricola Holding took over the control of the Avicola Crevedia following a primary tender, which was conducted at the beginning of this year, contributing with a capital increase worth some 3.5 million euros (12.6 million RON).