Crist Tim prepares investments of 5 mln euro in a ready meal production site and a winery

Romanian food producer Cris Tim will run investments of more than 5 million euro in a winery and a ready meal production line, division which recorded a 30 percent growth in 2014, Radu Timis, the group’s president, said to Mediafax.

“This year we are investing 3 million euro in a new ready meal factory in Filipestii de Padure. We will start the project this year and it will be operational next year. At first it will have a capacity of 10 tonnes per day, and in two years it will be expanded to 15-20 tonnes per day. We will deliver salads, ready-to-eat grilled meat, and we will also move on to soups. It is a segment of the future in our view”, said Timis, quoted by the newswire.

The food group is already in the ready meal business, niche which brought sales exceeding 5 million euro in 2014. As regards the winery, Cris Tim will invest 2.5 million euro in a boutique winery, the first of its own, as last year when wine production was launched the company worked with a neighboring winery, explained Radu Timis.

Cris Tim’s plans for 2015 also include the extension of the logistics center from Filipestii de Padure, the launch of a yogurt products line for children and of ice cream products destined to HORECA.

Last year, the group invested 8 million euro and recorded a turnover of about 90 million euro, with EBITDA (earnings before interest, taxes, depreciation, and amortization) rising from 8 to 10 percent, said Timis, as per the same source. In 2015, Cris Tim expects a turnover of over 100 million euro.