December 1 (SeeNews) - Bulgarian poultry producer Gradus [BUL:GR6] said on Friday that it has acquired new production equipment for wholly-owned meat processing subsidiary Gradus-1 at a total cost of 1.87 million levs ($1.03 million/956,115 euro).
The investment will partly be funded by EU grants under the Rural Development Programme, Gradus said in a bourse filing without providing further details of the financing breakdown.
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The funds were deployed to purchase labelling machines equipped with automatic weighing systems, specialised transport vehicles with automatic refrigeration system and state-of-the-art refrigeration compressors.
In June, Gradus announced that it will invest 6.8 million levs in Gradus-1.
Earlier on Friday, the poultry producer reported a 68% slump in its January-September net profit to 7.4 million levs.
(1 euro = 1.95583 levs)