URBB reassesses short-term investments in the context of financial crisis

URBB representative said at international level, the signals of financial crisis had been sent few months backwards in time, before the Wall Street’s “economic outburst” unleashed.

“I think that it is more appropriate not to anticipate the financial crisis, but to prepare the economic groundwork for these difficult moments,” said Shachar Shaine (photo).

As for beer industry in Romania, president of URBB said the effects of the crisis will be differently felt by each company in the field.

“In my opinion, given the fact that 2009 is the first year after elections, I think this will have positive effects, both in terms of state budget and stability of local currency. The global recession will probably not avoid Romania, but we still have positive factors to compensate this, such as development of infrastructure, low unemployment rate,” said Shaine.

Furthermore, president of URBB said that at this point, it is hard to anticipate the negative influence of financial crisis on Romanians’ purchase power, due to sales registered in first nine months this year.

URBB reported a 15% growth of sales volume in first nine months this year, compared to last year. Additionally, the company forecasts a 9% market share for this year, and 12% in the coming 2-3 years, according to Shaine.

Shachar Shaine added that, Romania’s beer industry is “consolidated and extremely competitive, enjoying the presence of four of five world producers”.

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