Several investors vie for insolvent Romanian sunoil producer Mandra

The fate of insolvent Romanian sunoil producer Mandra from Barlad (eastern part of Romania), under insolvency since February 2019, seems to have changed after the war in Ukraine brought the food processing market and the edible oil producers into the spotlight.

The court-appointed manager of the company, CITR, said that more investors are interested, and some of them have already reached an advanced stage of the due-diligence process, Ziarul Financiar reported.

CITR set a starting price for the company's assets at EUR 2.46 mln, not including VAT. But it accepts bids below the target price.

Romania is the largest sunflower producer in Europe, but its crushing and refining capacities cover only a small part of the crop - consequently, part of the sunflower produced by local farmers is sent to the foreign factories owned by traders operating on the local market.

Mandra operates two production plants, four collection points in the counties of Iasi, Vaslui, Galati and a subsidiary in the Republic of Moldova. It is structured on three business lines: oil processing, compound feed production, storage and grain trade.

(Photo source: Evgeniy Salov/Dreamstime.com)