In addition to the Turkish expansion, a Japanese greenhouse is also scheduled to open, Rob Baan tells the Volkskrant. He predicts a growth of 12%. But it hasn't always been easy. Baan looks back on the EHEC crisis. "That was the darkest period in our life."
Baan founded Koppert Cress in 2002, and after rapid growth, the company had a revenue of 12.7 million Euro in 2010, a profit of more than 10% and credit from their main bank, ING, of 22.5 million Euro. A new greenhouse was opened in New York, and there was the expansion in the Westland. And then the EHEC crisis happened. From an example to horticulture, Baan and his seedlings were suddenly suspect.
The epidemic was nipped in the bud, but eight months later, sales had practically come to a halt. At the end of 2011, a bill of 3 million Euro for building the premises remains unpaid. The first measure is to temporarily put a stop to everything. 'We covered holes in the roof with plastic, against the rain. It was like a Greek building site.' Now that all his attention is on 'crisis management', other problems in the company continue to grow.
And yet, he manages to survive. By converting a subordinated loan from his business partners into equity, he gives the balance sheet a 5 million boost and manages to appease the bank, which does want him to amortize a part of the value of his American branch. 'We were forced to focus. Fortunately we didn't need to lay off anyone.'
Read the entire article at the Volkskrant.
Baan founded Koppert Cress in 2002, and after rapid growth, the company had a revenue of 12.7 million Euro in 2010, a profit of more than 10% and credit from their main bank, ING, of 22.5 million Euro. A new greenhouse was opened in New York, and there was the expansion in the Westland. And then the EHEC crisis happened. From an example to horticulture, Baan and his seedlings were suddenly suspect.
The epidemic was nipped in the bud, but eight months later, sales had practically come to a halt. At the end of 2011, a bill of 3 million Euro for building the premises remains unpaid. The first measure is to temporarily put a stop to everything. 'We covered holes in the roof with plastic, against the rain. It was like a Greek building site.' Now that all his attention is on 'crisis management', other problems in the company continue to grow.
And yet, he manages to survive. By converting a subordinated loan from his business partners into equity, he gives the balance sheet a 5 million boost and manages to appease the bank, which does want him to amortize a part of the value of his American branch. 'We were forced to focus. Fortunately we didn't need to lay off anyone.'
Read the entire article at the Volkskrant.