Mineral water producer Bilbor became insolvent

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Mineral water producer Bilbor Mineral Water, part of the United Romanian Breweries Bereprod, became insolvent after the Ilfov County Court endorsed the application of Marsa International company.

Provisional trustee has been appointed Casa de Insolven?? Transilvania (Transylvania Insolvency House), Bucharest branch, and the first general meeting of creditors’ meeting was set for April 17, 2015.

Bilbor Mineral Water was launched in 2009 with an initial investment of over EUR 10 million in the construction of a factory in Bilbor, in Harghita County, 12 miles from the Borsec resort.

According to data released by the Ministry of Finance, the turnover of Mineral Water Bilbor decreased by 22 percent in 2013 against the previous year, to RON 7.65 million (EUR 1.73 million), and losses were cut by 62 percent to RON 1.1 million (EUR 250,000).

In addition to Bilbor, the URBB’s portfolio includes beer brands such as Tuborg, Carlsberg and Skol and Granini juices.

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