20/05/2016

New investment by ELBISCO. The company is investing €20 million in a new production line for rusks

ELBISCO, implementing a consistent strategy of extroversion and competitiveness, is undertaking an investment of €20 million, which will complete a 3-year investment plan amounting to €30 million. The investment concerns the creation of a new rusk production line that will come into operation in early 2018.

The operation of the new production line will create new growth prospects for ELBISCO, by increasing its rusk production capacity by 40%. The additional product quantities will be channelled to the European export market, by exploiting cooperation opportunities with major companies and retail chains.

The business benefits and prospects that will stem from this investment will allow ELBISCO to maintain its leading position in the domestic rusk market, strengthen its growth and profitability through exports and secure jobs on a long-term basis.

The new production line will be constructed in Halkida by expanding the existing ELBISCO facilities, since the company has already exhausted the statutory building capacity at its facilities in Pikermi, where the current rusk production line is located.

Employees working on rusk production will continue their work at the new unit, when it is completed. The company provide daily transfer to and from the plant in Halkida. ELBISCO has also developed a special Voluntary Retirement programme with favourable financial terms, in order to support any employees who may choose not to continue working at the new production line.

The Managing Director of ELBISCO, Mr Dimosthenis Ramantanis, stated: “In recent years, while operating against a backdrop of adverse economic conditions, ELBISCO has achieved a positive performance while also ensuring its future growth through major investments. Today, we continue and expand our investment programme in order to create new opportunities in the local and – mainly – the European market. The development of the new rusk production line will allow us to take a leap of extroversion, which will create added value for the company, its employees and the Greek economy.”