Good for Business, Investments, Latvia

International Internet Magazine. Baltic States news & analytics Friday, 18.09.2020, 17:07

Orkla Latvija to invest over EUR 4 mln in development in 2020

BC, Riga, 14.02.2020.Print version
Orkla Latvija, a merger of Orkla Confectionery & Snacks Latvija and Orkla Foods Latvija, plans to invest more than EUR 4 mln in development this year, BC was told at the company.

This year, Orkla plans to invest in upgrading its production lines and equipment, the development of new products, improving the work environment and safety, sustainability projects, including energy efficiency, as well as IT infrastructure and logistics processes.

Orkla Latvija CEO Toms Didrihsons indicated that Orkla Latvija has five production plants in Latvia and a new Laima sweets plant is under construction in Adazi. The company also operates 20 Laima sweets shops and the Laima chocolate museum.

As reported, Orkla Latvija has invested EUR 20 mln in the new Laima sweets plant in Adazi and the brand's development. Since 2015, Orkla has invested more than EUR 40 mln in its Latvian business, excluding acquisition deals, and plans to increase its investments in Latvia several times by 2023.

Orkla Latvija turned over EUR 116.092 mln in 2018, which is an increase of 3.1% against a year before.

In 2015, Norwegian food group Orkla, which owns Latvia’s NP Foods group, decided to merge Latvian food companies Laima, Staburadze, Latfood and NP Foods into one company, Orkla Confectionery & Snacks Latvija. Also, Latvian Spilva and Gutta companies were merged into Orkla Foods Latvija.

Search site