KLAIPĖDA, Lithuania — Ukrainian confectionery company Roshen has announced an €8 million euro upgrade to its caramel factory in Lithuania.
Roshen acquired the factory in 2006, its first production facility within the European Union. It also has facilities in Russia and Ukraine. The investment into the plant will start with an initial €3.2 million investment now, with more to follow later. It’s still unclear how many job this will create.
The investment “will be for the purchase and setting up of new lines for producing caramel. After the modernization the planned productivity will increases to 1,290 metric tons per month. Products from the Lithuanian factory will be on the ЕU market from March, 2011,” the company said in a press release.
When Roshen bought the Klaipėdos Konditerija company, the factory only produced 80 tons of caramel a month.
In its home market, Roshen enjoys a large market share, producing around 25 percent of all confectionary.
According to a report on confectionerynews.com, the company’s performance is so good that it is now one of the major players in one of the fastest-growing chocolate markets in the world, Central-Eastern Europe.
This article is free to view. To read Baltic Reports’ subscription-only articles, click here.
