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Estonian Noo Lihatoostus to invest EUR 20 mln by 2020

BC, Tallinn, 22.06.2016.Print version
AS Noo Lihatoostus, a meat processing company based in the small town of Noo not far from the city of Tartu, has started to build an annex to its production building for five million euros and is set to invest 15 million euros more in new facilities and equipment by 2020, writes LETA/BNS.

"It's true that the company is about to grow in the next few years. We have to make investments, as the old buildings are becoming a bit outmoded," AS Noo Lihatoostus board member Toomas Kruustuk told BNS on June 21st.

 

Kruustuk said construction of the annex started in June and is about to be completed in early 2017. "As a result, the speed and quality of processing of raw materials will improve. It will add about 5-6 jobs," he added.

 

The annual report of AS Noo Lihatoostus for 2015 says the company is planning to invest 15 million euros in plant and buildings in 2017-2020. Kruustuk refused to be specific when asked what facilities are the next to benefit from investments.

 

Noo Lihatoostus has posted a revenue of 25.6 million euros for 2015, 10.6% more than in 2014. Almost 85% of the revenue was generated in Estonia and the rest by export. The net profit for the period was 1.45 million euros.






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