Lithuania's Nordic Sugar Kedainiai to invest EUR 12 mln into plant upgrade
2018-12-12, 12:27
Published in
Economy
Scanpix / AFP
Nordic Sugar Kedainiai, a Lithuanian company own by Nordic Sugar, one of the largest sugar producers in Europe, plans to invest 12 mln euros into its plans upgrade. Around 5 mln euros will be investment into a new sugar beet handling and washing technological line, and around 7 mln euros will be invested into the modernization of the boiler-house. Nordic Sugar Kedainiai posted a net profit of 5.156 mln euros in the past financial year, down 40.2% from 8.624 mln euros in the previous fiscal year. Nordic Sugar owns 70.61% of Nordic Sugar Kedainiai, with the remaining shares owned by minority shareholders.
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