Apetit invests EUR 9.7 million in a new patty and ball production line in Säkylä
Apetit invests EUR 9.7 million in a new patty and ball production line in Säkylä
Apetit Plc, Stock Exchange Release, 15 June 2018 at 8:30 a.m.
Apetit invests EUR 9.7 million in a new patty and ball production line at the Säkylä plant in Finland. Vegetable and fish based patties and balls as well as other new vegetable-based value-added products will be produced in the production line. The construction of the production line begins in August 2018 and the production is estimated to begin in June 2019.
"Patties and balls have been one of the most rapidly growing product group for a few years, with annual growth about 20% on the average. Prospects for continuous growth are also bright - this is supported by strong growth in consumer demand, own product development efforts and new openings in international trade," says CEO Juha Vanhainen.
The new patty and ball production line doubles the production capacity and aims to meet the current demand and enables new products to be produced for domestic and international markets. In addition, it improves production efficiency in many ways.
"All of our strategic focus areas, renewal, internationalization and efficiency improvement, will become visible in the investment. In addition, the investment is material locally in Säkylä and it is also a strong message on developing and further strengthening of our operations. The investment will generate work and workplaces in the production and supply chains due to increased volumes. Raw material for products are also produced by local contract crowers in the area," Vanhainen continues.
In the future, the investment will enable a more versatile product development in relation to e.g. product shapes, a raw material base and new flavours, and the production of entirely new types of vegetable-based products. Also, it enables better customization for different markets.
Apetit Plc
For further information, please contact:
Juha Vanhainen, CEO, Apetit Plc, tel. +358 10 402 00
Sanna Väisänen, Director, Communications and Investor Relations, Apetit Plc, tel. +358 10 4024041
Apetit is number one in vegetables. It is a food industry company firmly rooted in Finnish primary production. We create well-being with vegetables by offering healthy and tasty food solutions that make daily life easier. We also produce high-quality vegetable oils and rapeseed expellers for feeding stuff, and trade grain on the international markets. Apetit seeks to lead the way in vegetable-based food solutions. Apetit Plc’s shares are listed on Nasdaq Helsinki. In 2017, the company’s net sales were EUR 312 million and it had approximately 640 employees. Read more at apetitgroup.fi.