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 - Manufacture of food products
200 jobs Number of planned job creations
Announcement Date
16 May 2005
Employment effect (start)
1 June 2005
Foreseen end date
Description
In June 2005, Fornetti will start production in a new factory in Timisoara (Vest region) as the result of a €3.5 million investment initiated in October 2004. Fornetti was set up in Romania in 2001, as a Romanian-Hungarian company under the licence of the parent company in Hungary bearing the same name, and initially ran only distribution operations. Since 2002, it also started manufacturing and opened its first production unit in Timişoara, which currently numbers 600 employees. The new factory, the third one opened in Romania, will increase Fornetti’s workforce by 200.
Fornetti operates as a franchise, making pastry products and selling them through a network of 325 shops. In the course of 2005, the network will grow by another 100 shops.
The new factory will ensure the continuing growth of company sales, which in the first four months of 2005 amounted to 3,500 tons, compared to just 1,900 tons in the same period of last year. In 2004, Fornetti's turnover was over €10 million, and is estimated at €17 million for 2005. Fornetti has the most extensive franchise network in Romania.
Sources
16 May 2005: Ziarul Financiar
Citation
Eurofound (2005), Fornetti, Business expansion in Romania, factsheet number 61612, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61612.
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