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Monday, December 20, 2004

Montero group invests 2.4 Mln Euro in real estate

Montero Group - a Romanian group primarily occupied with distributing pharmaceuticals said on Monday it has invested 2.4 million euro ($3.2 million) in two real estate projects.

Montero Group said the projects total 42,500 square metres and will be sold once completed. The first is in a Bucharest suburb and includes 50 single-family and several commercial buildings. The project should take two years to build.

The second project is in the Snagov mountain resort and includes 12 homes. It should take just a year to finish.

This year, MONTERO celebrated 10th year of existence. They started the business in 1993 with a single pharmacy situated in the center of Bucharest. Over the years, MONTERO has gained a reputable national network for distributing pharmaceuticals and medical devices.

Their activities focus on the pharmaceutical sector which makes up 90% of MONTERO Group’s turnover and profits. They’ve also developed a chain of medical device stores, an IT business focused on pharmaceutical companies as well as a production sector of dental materials and medical equipment.

Montero has about 450 employees throughout Romania and a turnover of about 60 milion Euro (in 2002).

Posted by Mihai : 12/20/2004 05:49:00 pm