Romanian paper producer Tiger Somes plans Euro5 million investment supported by EU funds

Oct 05, 2009. /Lesprom Network/. Paper producer Tiger Somes based in Dej County, Romania revised its turnover estimates for the current year and forecasts 2009 figures similar to the ones of 2008, and namely of Euro 7million, as Packaging Europe reported. At the beginning of this year, the forecast turnover was of Euro 7.7million, up 10% against last year. “In the first half of 2009, the company maintained the same turnover achieved during the same period last year. Though there is still high demand for the Group’s products, the market is much more selective with respect to 2008.” Tiger Somes announced for this year an investment of approximately Euro 5million for the modernization of the Dej based facility. The investment will be made with money from structural funds and its main goal is the increase in the plant’s production capacity. “The company will keep on developing its activity through the maintenance of its already existent portfolio and through finding new partners. The Group intends at the same time to stick to the export rate of last year”, Tiger Somes Managing Director declared. More than 80% of the company’s products are destined to the European market, the main destinations being Spain and France. Tiger Somes manufactures printed polypropylene paper for the packaging of meat, cheese dairy and confectionery and pastry products, polypropylene paper for the packaging of portioned products, as well as disposable tablecloths and napkins.