Romanian Cris-Tim Mulls Buying Competitors Faced With Liquidity Crisis

"(…) Our group has been preparing for this crisis for four years, as we started the process to adapt to EU standards. The company’s restructuring program has been 90% accomplished, and the change process is continuous (…),” Timis said during a seminar on companies restructuring organized by Ziarul Financiar business newspaper.

Cris-Tim head said the company already adopted cost efficiency measures to counteract a possible sales volume decrease, adding that "every saved euro" creates an advantage against competitors.

Another measure against sales drop would be the hike in low-cost products volume.

Timis said the food industry will be less affected by the financial crisis as Romanians will continue to buy food.

In 2007, Cris-Tim group reported a EUR97 million turnover, up 13% on the year.

The company’s main competitors on the Romanian market are Aldis Calarasi, Tabco-Campofrio, Caroli, Angst, Elit Cugir and Kosarom Pascani.