Cramele Recas is one of the biggest domestic players in the wineindustry, owning 700 hectares of vineyard and annually generating13m-euro turnover. It is a family business in which, besidesBritish-born Philip Cox and his wife, another 10 Romanianentrepreneurs invest.
Philip Cox believes Romania has not exited recession
"in the true sense of the word" but nevertheless Recas' performancelately has been good. "I've even been surprised that recent years'results have been so good, with growth on the Romanian market and abetter export development. At the same time, the steps taken to cutfinancial risk and for technological modernisation have started tohave a positive effect," Cox also said.
The company for this year budgets 13m-euro turnover, flat on 2009.The wine producer in 2009 registered a slight sales increaseyear-on-year.
Asked by ZF what he felt was Romania's biggest problem, he referredto the bigger number of people that consume against the ones thatproduce something.
"All state structures are drowning the private sector. From thepolitical class that has a very short-term thinking focused ontheir groups of interest to the entire state administration that isinefficient and eats up more money than the private sector produces(...)," Cox says.
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