ECONOMY

Elgeka inks 3-yr deal in Romania

Elgeka, a distributor of foodstuffs and consumer goods, has signed a three-year agreement to distribute products in Romania in a deal worth 5.5 million euros annually. Elgeka said its 50.02 percent-owned subsidiary Elgeka Ferfelis Romania signed the deal with SSL International PLC, producers of Durex condoms and Scholl foot care products. The deal will boost Elgeka’s group turnover by 5.5 million euros per year and involves distribution of products to all channels of the Romanian territory except for drugstores. «Elgeka Ferfelis Romania constitutes an important part of the group in the Balkan area with fast-growing development over the last five years,» the Greek company said in a statement. Elgeka Ferfelis has 12 branches in Romania and employs over 450 employees. Elgeka shares, which are traded on the Athens bourse, rose 0.84 percent to 1.20 euros yesterday, bringing its market capitalization to 38.4 million euros.