Business By attracting EU co-financing, Forevers will invest 1.46 million...

By attracting EU co-financing, Forevers will invest 1.46 million euros in the plant

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The local meat processing company “Forevers” is continuing the modernization project of the factory, attracting European co-financing. It is expected that the amount of investments in two years will reach 1.46 million euros, the company “Delfi” was informed by the company.

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At present, the company has purchased production equipment with a total value of 396,300 euros with the aim of increasing production capacity and introducing new products.

The project is implemented with the co-financing of the European Regional Development Fund, making up 45% or 658,791 euros of the total project amount. The company points out that the main goal of the project is to introduce new products for industrial production.

The company points out that the production of products for the industrial environment has been studied in 2016, with regular monitoring of market demand. There is a high consumer interest in various fast-cooking, ready-made meat products. The company has also invested in a new vacuum and packaging equipment for the European Union (EU) project. The investment of this project in turn reached 185 thousand euros.

It has already been reported that in addition to the European Union co-financing project, Inevers in the first quarter of the year announced the diversion of investments in the purchase of new production and packaging equipment, as well as the renewal of the car fleet. The company invested 1.1 million euros for these purposes.

“Forevers” is a local meat processing company in Latvia, which has been working in the market for more than 23 years. More than 60-62 tons of meat products are produced and packaged every day in the company’s production plant, in compliance with the European Union production standards. The Forevers sales network currently has 94 stores throughout Latvia.

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