Foodstuff, Industry, Investments, Latvia, Markets and Companies

The management report says that last year it cooperated with more than 217 milk suppliers, mainly purchasing milk in Kurzeme and Zemgale.

In the future, the management of Tukuma Piens plans to strengthen its leading position in strategic segments and develop the production of new and promising products for the local market and exports. Work is also planned on optimizing the assortment and strengthening the quality of raw materials. Tukuma Piens also plans to invest in modernization and expansion of production to ensure the company's competitiveness, the company points out.

Due to the restrictions introduced to combat the spread of Covid-19 at the beginning of the year in Latvia and other countries of the world, which hampered economic development, uncertainty about economic development remains. Currently, the company has no significant operating restrictions, however, it is not know how the situation could develop in the future, the company points out.

Tukuma Piens in 2018 had a turnover of EUR 55.098 mln, which was 3.6% more than a year earlier, while the company's profit increased 2.6 times and reached EUR 4.643 mln.

Tukuma Piens was registered in 1996, the company's share capital is EUR 1.4 mln.