Romanian agriculture entrepreneurial company Grup Serban Holding plans to invest €3 million in the development of its vegetable packaging facility. Grup Serban Holding obtained the necessary funds for the project from the EU, with €1.2 million of the total being non-refundable. The project will be implemented through the group's subsidiary Fabrica de Paine Serban.
"With this new investment, we will increase the packaging capacity of vegetables from 1.5 tons per hour currently to 10 tons per hour, and the positive impact will be seen in the coming years in the increase in turnover and net profit," Serban Holding Group chief financial officer Ovidiu Bucataru said.
Grup Serban Holding is active in agriculture, cereals trading, oil plants and vegetables, poultry farming, bakery, catering, as well as distribution, and transport.
In February, the group signed a contract with PepsiCo for the delivery of potatoes for Lay's chips. Its shares traded up 1.54% at 1.98 lei per share at 1330 CET on Wednesday on the AeRO market of the Bucharest Stock Exchange.
Source: seenews.com