Pasta maker Pangram Resita has entered the real estate market this year, going by the principle that after the EU integration it is safer to have several businesses than a single one, which could falter at any given moment.
"The company is currently deriving revenues mainly from the production and distribution of pasta. Once we join the EU, there will be all kinds of moves on the market and there is the possibility that a single business may stop thriving at a certain moment for various reasons. However, if there are other businesses, the company does not start falling, and the businesses will offset one another," stated Doru Radusean, commercial manager of Pangram.
After commencing a series of investments in the tourism sector last year, Pangram has recently acquired a 40-hectare plot of land in the northwestern part of Timisoara for about 3 million euros.
According to Radusean, the respective plot of land had been initially purchased as an agricultural plot for wheat, but the company''s plans changed because of projects related to the development of Timisoara city.
"The plot of land is close to the city, in a quite large area where there are no buildings for the time being. The ring road around Timisoara is going to cross that area, so we''ve modified the destination of the plot of land. At this moment, there are several possibilities we are considering, but in principle we want to build houses on the land we bought," said the official of the firm.
As regards tourism, the company has so far invested around one million euros in the Crivaia Semenic, the tourist area of the Banat Mountains, in a project that is going to include a hotel, a ski slope and a funicular. The total value of the investment will fluctuate around 12 million euros. This year, investments in Semenic will amount to 2 million euros. The money will be used to finalise the first motel and to start the construction of an ultramodern hotel at the end of this year.
This year, Pangram will also finalise investments in a new pasta line started in 2005, which amount to 1.5 million euros so far, and will invest in the automation of the sales force, of the internal communications system, in the modernisation of software and in the conception and launch of media campaign. The company earmarked around 2 million euros for this project. At the same time, new products will be added to the Pangram line, such as pasta for soup, Monte Banato crackers, rice flour pasta and corn flour pasta.
"For 2006, we estimate our turnover will reach 18 million euros, not including tourism activities, which we expect to bring about 2 million euros," Radusean also said.
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