The alcoholic drinks maker SA Aroma still faces bankruptcy and thus all the management and financial resources should be mobilized to avoid such a risk, Minister of Agriculture and Food Industry Vasile Bumacov told a news conference, quoted by Info-Prim Neo. On November 17, 2009, SA Aroma asked the court to declare it insolvent. According to Vasile Bumacov, the Ministry of Agriculture and Food Industry, which controls the given company in which the state owns a major holding, took a number of measures to avoid its bankruptcy. “In 2009, when we took over the company, it had debts of 150 million lei to banks for purchases made in 2004-2008 and had to repay bank loans to the value of 130 million lei and 470,000 euros. We negotiated with the banks and obtained the rescheduling of the debts. The banks even reduced the interest rate from 23-26% to 10 %. We also agreed to reschedule the debts to a number of economic entities,” the minister said. According to the official, the repayment of the debts allowed the company to restore production and increase sales. Exports to Russia in 2009 totaled 36 million lei, while in 2010 - 49 million lei. “The achieved results should be strengthened. The Ministry, in concert with the company’s team, intends to investigate the markets to which SA Aroma exports products. The contracts signed with some of the companies that promised to buy large quantities of products were not always the most advantageous. We are now looking for new clients and plan to diversify the export markets,” said the minister. SA Aroma produces 30 types of cognac and other strong alcoholic beverages.