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Poultry farm Kekava to spend EUR 7.4 mln on modernization, expansion of product portfolio

BC, Riga, 18.05.2016.Print version
Latvian poultry farm Putnu Fabrika Kekava (Kekava) is set to invest EUR 7.4 million in production upgrades and expansion of its product portfolio in 2016, the company’s CEO Andrius Prankevicius informed LETA.

Kekava has defined making premium-quality poultry meat for domestic and foreign markets as its main goal for this year.

 

Prankevicius said that during the first quarter of 2016, Kekava fully overhauled its fresh meat line and abattoir.

 

The company plans to invest another EUR 6 million this and next year to complete a major reconstruction of the broiler house and a plant in the eastern Latvian town of Krustpils. This year, the company also works on new product lines for the domestic and export markets where Kekava has been strengthening its foothold lately.

 

“This year, we have developed two new lines and are planning to increase our total output by 10 percent by the end of this year,” Prankevicius said.

 

In his words, consumers in Latvia are becoming increasingly demanding regarding the quality of meat and to 76 percent of consumers it is important that poultry meat is locally produced, according to a survey of more than 700 consumers conducted by the company in May.

 

There are currently more than 240 products in Kekava’s portfolio.

 

In 2014, Kekava changed its fiscal year, which now lasts from June 30 of last year to June 30 of this year. In 2014, Kekava raised its turnover by 9 percent against 2013, to EUR 41 million. The company’s profit grew 8 percent year-on-year to EUR 3.28 million.

 

Kekava was founded in 1991. In October 2013, Kekava became a subsidiary of Lithuania-based enterprise Linas Agro Group. In February 2014, Linas Agro Group acquired 100 percent of shares in Latvian poultry companies Lielzeltini, Cerova and Broileks.






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