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Dec 01, 2009 14:35 EEST
December 1 (SeeNews) - Croatia's Atlantic Grupa said on Tuesday it opened a 32 million kuna ($6.6 million/4.4 million euro) cosmetics and personal care products manufacturing plant of Neva, a member of Atlantic Grupa.
It is the largest investment of Atlantic Grupa in the segment of manufacturing cosmetics and personal care products, the company said in a statement posted on website of the Zagreb Stock Exchange. Atlantic Grupa is a consumer goods distributor and manufacturer of healthcare products.
This investment is a part of the long-term development strategy and enables the realisation of plans for the growth of production as well as the possibility of its long-term expansion. The opening of the new plant concludes the Atlantic’s investment cycle planned by the end of 2009, the statement added. Neva operates in the system of Atlantic Grupa since 2003.
“The construction of the new plant in line with the latest technological, environmental and urban requirements is a precondition for realising our strategy – increased production and employment, quality improvement and business stability”, the President of the Management Board of Atlantic Grupa, Emil Tedeschi, said.
Atlantic Grupa shares were trading up 1.14% at 682 kuna by 1155 GMT on the Zagreb bourse on Tuesday.
(1 euro=7.3084 Croatian kuna)
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