March 5 (SeeNews) - Croatian food and pharmaceuticals manufacturer Podravka [ZSE:PODR] said on Tuesday it is investing 13 million euro ($14.1 million) in a new tomato processing plant.
The end of investment will enable to boost the capacity for processing of fresh tomato and will provide continuity of own production, Podravka said in a press release.
Construction of the plant, located the northern city of Varazdin, began in June 2023, with completion expected this summer.
The factory is part of the company’s strategy by 2025, which envisages investments in upgrade, deployment of new technologies and digitisation, improvement of energy efficiency and better working conditions.
Podravka’s shares traded 1.25% lower at 158 euro intraday on Tuesday on the Zagreb bourse.
($ = 0.925 euro)