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Tuesday, November 09, 2004
Business in Romania blog
US meat processing giant Smithfield, with $10bn in annual sales, has recently announced it paid 83 million dollars for two production facilities in Romania and Poland. The Americans bought a 22% stake in meat processing company Morliny from Campofrio Alimentacion of Spain for 50 million dollars, with the rest being paid for the former pig breeding complex ComTim Timisoara.

Smithfield acquired ComTim in two stages: about 70% of its assets from a group of Italian investors forming Agrotorvis SRL, and the rest from Com-Tim Group SRL, owned by businessman Nick Cojocaru and a group of Australian investors.

During their recent visit to Romania, Smithfield representatives announced an ambitious investment programme worth 350 million dollars aimed at ComTim.


Posted by Mihai : 11/09/2004 01:16:00 pm Smithfield pays $33m for Comtim


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