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Sep 25, 2023 14:35 EEST
September 25 (SeeNews) - Serbian meat processing company Mitros, owned by Austria-based Gierlinger Holding, will cease production by the end of the year, local media reported.
Based on a detailed analysis of the company's operations, the management and owners of Gierlinger Holding were forced to make a difficult decision to suspend production at Mitros in Sremska Mitrovica, Gierlinger Holding was quoted as saying by agriculture portal Agrosmart on Saturday.
In 2015 Gierlinger Holding took over Mitros after bankruptcy proceedings and another three unsuccessful sale attempts. At the time, the Austrian company planned to invest 16 million euro in new equipment at the factory and export its output to the Russian and Chinese markets.
($ = 0.9397 euro)
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