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KRI-KRI to invest 20m in a new yogurt factory

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KRI-KRI is investing a total of €20m in order to build a new, modern yogurt factory in Serres, Greece, following the unfortunate recent event of the fire on its premises.

According to the companys press release, this new investment plan includes new yogurt production lines and also storage facilities for raw materials and ready products, covering 12,000 sq. m. Production capacity will be doubled, compared to the former plant that was destroyed. In full operation, the new factory will provide employment to more than 70 workers. According to schedule, initial operation will begin in summer 2014.

KRI-KRI has already filed an application for a state subsidy of 30% on the projects budget, according to the Development Law 3908/11. The remaining will be financed by existing cash reserves and long-term bank borrowing (30%).

On the yogurt market, KRI-KRI is experiencing rising market shares in Greece, whereas it keeps strong exporting activity to more than 10 countries (Balkan countries, UK, Germany, Italy, France, Netherlands, Iraq).

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