March 22 (SeeNews) - Macedonian meat processing company and food and cigarette distributor Pekabesko said it has invested 1.4 million euro ($1.5 million) in new equipment that will boost production capacity.
The new investment, which will help increase the number of employees by 50 people, takes to 18 million euro the aggregate sum which the company has invested since 2012, including a 13 million euro production and logistics base in Kadino, Pekabesko said in a statement posted on the corporate website.
Pekabesko closed 2016 with a net profit of 110.4 million denars ($1.9 million/1.8 million euro), up 43% year-on-year. Operating revenues reached 4.01 billion denars and operating costs totalled 3.87 billion denars.
The company was established in 1979, developing from a branch of then the biggest Agricultural Cooperative PKB Belgrade. In 1991 Pekabesko was privatised. The company's core activities are production of delicatessen foodstuffs and distribution of foods and cigarettes. Currently Pekabesko employs more than 450.
(1 euro = 61.39 denars)