SeenewsSeenews
Search
Seenews
AlertsSeenewsSeenews
Searchclose
TOPICS
arrow
COUNTRIES
arrow
INDUSTRY
arrow
Economy
arrow
Browse Economy
Mix and match your focus countries with our advanced search
Investments
arrow
Browse Investments
Mix and match your focus countries with our advanced search
Deals
arrow
Browse Deals
Mix and match your focus countries with our advanced search
Tech
arrow
Browse Tech
Mix and match your focus countries with our advanced search
Green
arrow
Browse Green
Mix and match your focus countries with our advanced search
0/5
You have 5 free articles left this month
You have 0/5 free articles
Sign up to get 5 more free articles this month
SIGN UP
arrow
LOGIN
arrow

Croatia's Podravka invests 16.2 mln euro to revamp Slovenian unit

Oct 11, 2023, 5:41:28 PMArticle by Annie Tsoneva
share
October 11 (SeeNews) - Croatian company Podravka is investing 16.2 million euro ($17.2 million) to upgrade and restructure its Slovenian subsidiary, Zito, a food producer, with a focus on improving efficiency in the bakery products segment.

Croatia's Podravka invests 16.2 mln euro to revamp Slovenian unit
Zito. Source: Podravka

The project was launched in January 2022, and so far 8.2 million euro has been invested. A further 8 million euro will be invested by the end of the year, Podravka said in a press release. The company financed the restructuring with funds raised from the sale of real estate.

The project creates preconditions for further growth in the bakery segment and improves the availability of Podravka’s products on the Slovenian and Croatian markets, the company added.

The overhaul involves modernising the bread factory production line in Vic, automating production lines in Maribor, and expanding frozen food storage capacity in Maribor.

Podravka’s shares traded 1.13% higher at 134 euro intraday on Wednesday on the Zagreb bourse.

($ = 0.941 euro)

Your complete guide to the emerging economies of Southeast Europe. From latest news to bespoke research – the big picture at the tip of your fingers.