July 25 (SeeNews) - Romanian food supplements and teas producer Alevia said on Tuesday it has invested 2 million euro ($2.33 million) into its factory expansion and plans to increase its workforce by one-fifth by the end of the year.
Following the investment, the company aims to increase its turnover by at least 20% annually over the next five years, Alevia said in a press release.
The investment included the acquisition of 2,000 sq m of industrial space hosting a warehouse, the tea production section and three new production lines for seeds, dried fruit and raw nuts.
An additional 1,000 sqm hall was built to house the warehouses for raw materials and finished products.
By the end of the year, Alevia plans to hire 40 new employees at the factory where currently 210 work.
In 2016, Alevia recorded a turnover of 5 million euro, up 17% on the year, boosted by sales of more than 2 million boxes of supplements and about 3.5 million tea boxes. The company targets a turnover of 5.8 million euro in 2017.
Alevia was founded in 1994. The company produces 140 types of nutritional supplements and 60 assortments of teas, available in over 4,000 pharmacies and stores in Romania.
($=0.8579 euro)