Nordic Business Report-October 25, 2006-Finnish Atria Group expands meat production and logistics in Russia
(C)1994-2006 M2 COMMUNICATIONS LTD http://www.m2.com
Finnish food processing company Atria Group Plc said on Wednesday (25 October) that it has decided to invest approximately EUR70m in building a new meat production plant and a logistics centre in Russia.
The new facilities will be established in the St Petersburg area and are scheduled to be completed by the end of 2008.
Atria Group also published its third quarter report on Wednesday, posting an operating profit of EUR12.7m, as compared to EUR13.9m in the third quarter of 2005.
The third quarter turnover amounted to EUR281.7m, a 13.5% improvement compared to the third quarter last year.
Atria Group said that while its earnings in Finland continued to develop strongly, and its earnings in Russia had turned positive, its result was burdened by costs related to acquisitions in the Baltic countries.
Atria Group, headquartered in Nurmo in Finland, is the largest manufacturer of meat products in the Baltic Sea area. The group has over 5,000 employees and an annual turnover of approximately EUR980m. Atria Group is listed on the Nordic Exchange in Helsinki.
One British pound (GBP) is worth approximately 1.48 euros (EUR).
((Comments on this story may be sent to [email protected]))
