In 2013, the company also reported a record gross profit of €12.5m. The announced investment programme aims to modernise its production facilities in Romania, Transavia said in a press release. In addition to this, a portion of the funds will be used to pay the firm’s bank loans.
With the planned project, Transavia expects to further increase its current output of 55,000 tonnes of poultry meat per year. The Romanian firm did not say when it was planning to complete the investment.
"I am very confident in the company’s performance," said Ioan Popa, general manager and majority shareholder of Transavia.
Transavia invested a similar amount in acquisitions of new processing equipment last year, after its investment plan fund was increased from the initial €8m to about €10m.
The Romanian poultry processor has a workforce of about 1,500 employed at some 25 facilities in Romania. These include 15 poultry farms, two breeding farms, two hatcheries, two slaughterhouses and a poultry processing plant. Transavia is the main supplier of poultry meat to 51 outlets of US fast food chain Kentucky Fried Chicken (KFC) in Romania.
Currently, the Romanian market for processed poultry meat products is estimated to be worth about €100m in annual sales, according to data obtained by local news site Alba24.ro.
The poultry processor is headquartered in Cluj Napoca, Romania. Transavia sells about 75% of its output in the domestic market, with the remainder exported primarily to other EU member states. The company’s products are marketed under the brands of Fragedo and Papane.