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Tuesday, 23.04.2024, 16:09
Swedbank issues EUR 24.49 mln loan to Dobeles Dzirnavnieks grain mill
He said that Dobeles
Dzirnavnieks plans to invest EUR 32 mln in new plants, including EUR 24.491
mln loan from Swedbank. The company’s investments are aimed at development of
the largest and most modern infrastructure for processing organic grain and
innovative pasta production plant.
Krops said that implementation of both large-scale projects
will significantly increase the company’s production capacity and expand the
range of products. and further improve its competitiveness in the foreign
markets.
“Our goal is to mark Latvia on the world’s map as a place
where high-quality food products with high added value are made.,” said Dobeles Dzirnavnieks board chairman Kristaps Amsils.
The company said that only 10-15% of organically grown grain
are processed and sold as certified organic products, but thanks to the new
project, this share will be increased to 50%.
Swedbank representative
Ieva Vigante said tha tthe bank has
been cooperating with Dobeles Dzirnavnieks
for more than ten years, and so far more than EUR 80 mln have been issued in
loans to the company.
As reported, Dobeles
Dzirnavnieks turned over EUR 113.722 mln in 2017, up 26.7% from a year
before, and its profit increased 53.9% to EUR 4.174 mln.
Dobeles Dzirnavnieks,
founded in 1991, has a share capital of EUR 3.818 mln. Since 2008 the company's
largest shareholder is Estonian company Tartu
Mill.
The main business operations of Dobeles Dzirnavnieks include storage and processing of grain and
grain products, production of all types of flour and flour mixtures, production
of semolina, pearl barley, food grade bran, processing of buckwheat, packing of
food products, wholesale, retail sales and supply of fodder in the whole
territory of Latvia.