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Dec 01, 2023 15:11 EEST
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.
You can download the 2023 Agriculture industry in Southeast Europe report here
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)
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