The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Food And Beverage Manufacture Of Food Products 10.11 - Processing and preserving of meat
650 jobs Number of planned job creations
Announcement Date
9 January 2023
Employment effect (start)
9 January 2023
Foreseen end date
31 December 2023
Description
Carmistin Group, a Romanian producer and processor of meat, has announced the creation of 650 new jobs by the end of 2023.
The Carmistin Group is continuing its investment and sustainable development strategy by accessing new funding for its livestock, organic egg production and organic farming division, as well as for new green energy projects. The €42 million syndicated loan - an extension of the company's existing financing line - is being jointly arranged by Banca Comercială Română SA (as coordinator, mandated lead arranger, book runner, documentation, guarantee and payment agent), CEC Bank (as mandated lead arranger), OTP Bank, Exim Bank, First Bank and Intesa Sanpaolo Bank (as lenders).
The funds are intended for investments in increasing production capacity, diversifying the product portfolio, adding improvements to product quality, and developing two projects for the production of electricity and heat in a cogeneration system for the consumption of group companies.
Carmistin Group includes more than 20 companies active in the production of chicken, pig, and beef, but also in cereal production. The company was established in 2000 and has a total workforce of 2,700 people.
Sources
9 January 2023: Company - press release (carmistin.ro)
Citation
Eurofound (2023), Carmistin, Business expansion in Romania, factsheet number 108205, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/108205.
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